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August 11, 2016

Owner of New York Broker-Dealer Indicted on Charges of Securities Fraud

Guy Gentile, an owner of a broker-dealer in New York, was recently indicted on charges of securities fraud. Mr. Gentile is accused of participating in a pump and dump scheme that generated $17.2 million in trading proceeds. The scheme involved the manipulation of the share prices of Raven Gold Corp. and Kentucky USA Energy, Inc. If found guilty, Gentile can face up to twenty years in prison.