United States v. Anthony Fareri

Opinion for the Court filed by Circuit Judge KAVANAUGH.

KAVANAUGH, Circuit Judge:

Anthony Fareri, a stockbroker, sold his clients worthless shares of stock in shell companies controlled by a co-conspirator. Fareri helped inflate the price of shares in the shell companies, recommended the companies to his clients, purchased shares on behalf of his clients without their permission, ignored requests by his clients to sell their shares in the companies, and falsified documents to conceal his scheme. Fareri ultimately defrauded his clients out of more than $3 million.

Fareri pled guilty to one count…