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St. Pete man sentenced in securities fraud case

November 13, 2019 - A federal judge in Massachusetts has sentenced St. Petersburg resident Gregory M. Bercowy to 17 months in prison, after he pled guilty to securities fraud. The judge also ordered Bercowy to pay $3.3 million in restitution and serve one year of supervised release, a Nov. 12 news release said. The U.S. Securities and Exchange Commission earlier charged Bercowy with manipulating the stock price of Aureus Inc., a penny stock company incorporated in Nevada. A federal judge in Tampa ordered Bercowy to pay a civil penalty of $507,513, and permanently barred him from participating in an offering of a penny stock.

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