On October 6, 2009 Bryan S. Kos previously convicted of Securities Fraud and International Money Laundering Scheme sentenced to 45 months in Federal Prison.
The evidence at trial showed that, from in or about October 2005 through in or about June 2006, Hagen, Kos and his co-conspirators used Canadian brokerage firms to sell approximately 6 million shares of GTX Global stock held in the names of offshore companies for proceeds of approximately $32 million. Hagen, Kos and his co-conspirators then wired these funds from the Canadian brokerage firms to bank accounts in the Bahamas, Curacao, Panama, Cyprus, Dubai, Switzerland, and Gibraltar through many US and offshore banks.
Other co-conspirators included David A. Hagen aka David DeFusco, Walter Hannen, Jeremy D. Jayned, aka Lyle Andrews, Donald E. Oehmke, Mark e. Brecher, Mr. R., Howell W. Woltz, Vernice C. Woltz, Samuel T. Currin, and Michael D. Spadaccini.
David Hagen, Mark Brecher, Howell Woltz, Vernice Woltz and Samual Currin have all been convicted and sentenced.
