Charles Vaccaro pleaded guilty as the last defendant in a multi-state penny-stock pump scheme. DOJ alleges conspirators manipulated prices and profited after inflating shares through coordinated promotional activity.

A DOJ release says Charles Vaccaro entered a guilty plea as the final defendant in a multi-state securities fraud case involving publicly traded penny-stock companies. Prosecutors allege the defendants orchestrated manipulative trading designed to artificially inflate stock prices and lure retail investors. According to DOJ, participants issued shares to themselves and/or nominees and then coordinated promotional media and press releases intended to make the companies appear more valuable and attractive. The promotional campaign worked in tandem with trading activity that was not based on genuine market demand. DOJ describes how the group induced investors to buy into the artificially boosted price action, while insiders positioned themselves to profit when the scheme drove prices upward. By the time the market’s interest was fueled by the staged narrative and promotional messaging, defendants allegedly had set the conditions to sell or otherwise benefit from inflated valuations. The case underscores common pump-style penny-stock tactics—manufactured hype, coordinated press, and trades intended to mislead the market—showing how securities fraud can resemble legitimate investment activity while being engineered for insider gains.