Clearwater Company's CEO Among 14 Arrested on Fraud Charges
Federal indictments allege long-term schemes to manipulate stock prices that led to more than 20,000 investors losing more than $30 million when the artificially inflated stock prices collapsed.
Federal authorities have arrested 14 people, including the CEO of a Clearwater-based company, in two federal indictments that allege long-term schemes to manipulate stock prices that led to more than 20,000 investors losing more than $30 million when the artificially inflated stock prices collapsed. As one defendant described the scheme during a wiretapped phone call: “What I do is turn stock into money.” Among those arrested Wednesday was Dwight Brunoehler, 62, of Maitland, who is the CEO of Clearwater's Biostem, a company that purported to develop and license regenerative stem cell treatments, including hair regrowth technology. Sign up for the Clearwater Patch email newsletter to receive more of our top headlines, blog posts, event …
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7:31 am on Sunday, February 17, 2013
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