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SEC’s New York Regional Office

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Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme
Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme A securities trader from Clifton was sentenced Tuesday to 18 months in federal prison for orchestrating a market manipulation scheme that netted him and others more than $17 million, authorities said. Joseph Taub, 41, must serve the entire term because there’s no parole in the federal prison system. U.S. District Judge John Michael Vazquez also sentenced Taub via teleconference from Newark to one year of supervised release, while ordering him to forfeit $17.1 million and pay restitution of $394,424 to the IRS. The Department of Justice also has reached a settlement of a civil forfeiture ca…

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by Jerry DeMarco