Canadian penny stock broker Andrew McAlpine has pleaded guilty to conspiracy to commit securities fraud at federal court in California and received permission to return to his home in the Cayman Islands pending sentencing. Prosecutors have recommended that he serve between six and 12 months in prison and he also faces restitution of "at least $270,689".
Cayman Islands-based Canadian penny stock broker Andrew McAlpine appears set to plead guilty to securities fraud in California, with a 'Change of Plea Hearing' scheduled for April 22 "at the request of defense counsel".
Criminal Indictment alleging securities fraud in USA v. Ongkaruck Sripetch, a.k.a. King Richards, a.k.a. Shelby Saint-Claire, a resident of Las Vegas, NV; Michael Wexler, a resident of Ottawa, Canada; Ashmit Patel, a resident of Oakville, Canada, and Andrew McAlpine, a citizen of Canada residing in the Cayman Islands, at the U. S. District Court for the Southern District of California.