Head of Oregon firm indicted in NYC in fraud case
Tuesday, February 21, 2012
NEW YORK (AP) -- The president of an Oregon investment research firm has been indicted on securities fraud charges in New York City.
Federal prosecutors in Manhattan on Tuesday announced the indictment against John Kinnucan (kuh-NOO'-kun). He was arrested last week in Portland, Ore., and jailed without bail after the government claimed he left threatening voicemail messages with prosecutors.
Authorities accuse the president of Broadband Research LLC of using inducements to pump information out of public company insiders. They say he would then sell the information to hedge funds and money managers as if it were the product of legitimate research.
The indictment charges Kinnucan with conspiracy to commit securities fraud, conspiracy to commit wire fraud and securities fraud.
A phone message left Tuesday with his lawyer in Oregon hasn't been returned.