Stockbroker Fined $100,000, Barred by NASD

Intercontinental Brokerage Corp. in Los Angeles and two associates, including a Woodland Hills stockbroker, were fined by the National Assn. of Securities Dealers for alleged stock manipulation. The NASD is the governing body of the national over-the-counter market.

The NASD said the stockbroker, Walter U. Zipfel, and another associate, Lutz K. W. Pilling of Germany, were each fined $100,000 and barred from the NASD. Intercontinental Brokerage was also fined $100,000 and expelled from the NASD.

Zipfel could not be reached for comment.

The NASD alleged that they manipulated an unidentified stock through “wash trades,” or sales involving no change in ownership, and created false indications of trading activity to generate sales or purchases of stock.