4 Plead Guilty to Penny Stock Fraud:...

4 Plead Guilty to Penny Stock Fraud: Two former managers and two ex-brokers for a defunct penny stock firm based in Paramus, N.J., pleaded guilty to involvement in a massive securities fraud scheme that cheated thousands of unsophisticated investors out of $67 million. Robert Humphrey of Boca Raton, Fla., national sales manager for F. D. Roberts Securities Inc., admitted in U.S. District Court in Trenton, N.J., that he conspired with other top management to manipulate the prices of the stocks F. D. Roberts handled. Kenneth Eisen, manager of the Boca Raton office, and brokers Pamela Rutherford of Boca Raton and Glenn Siesser of Highland Beach, Fla., pleaded guilty to fraud charges.