Feds Raid Bonanno Family Boiler Room

Feds Raid Bonnano Family Boiler Room
Author:
Updated:
Original:

NEW YORK - The FBI says it's raided a Manhattan boiler room brokerage with links to the mob.

Agents arrested several people Wednesday at an office building on West 36th Street. The FBI said one of the suspects was a member of the Bonanno organized crime family.

Authorities said the illicit brokerage was artificially inflating the value of a stock in a company with misleading sales pitches.

The suspects were expected to appear in court later Wednesday.

FBI Raids Boiler Room Brokerage [FoxNY]

FBI Raids 'Boiler Room' Stock Promotion Operation [Bloomberg]

Related