Justice Department files charges against local penny stock traders

Justice Department files charges against local penny stock traders

A federal grand jury indicted Salem resident Alexander Hawatmeh on charges of conspiracy to commit securities fraud and money laundering and Mikhail Galas of Vancouver with conspiracy to commit securities fraud.

Also charged in the criminal case and the SEC civil case was Christopher Mrowca, of Bradenton, Fla.

Prosecutors allege the three men promoted the stock of ISM International, an obscure Clearwater, Fla.-based company that claimed to specialize in "innovation, technology and manufacturing organic products," as well as green energy and film and television production.

In reality, ISML's only source of revenue was a flea market it operated. It consistently lost money, according to complaint. It's stock traded for fractions of a penny.

Read more at OregonLive.com