Contact Us
Make My Homepage

Short Hills investor charged with inflating company’s shares

SHORT HILLS — A New Jersey investor has been arrested in a conspiracy to defraud investors of millions of dollars in a technology startup.

computers (Jarek Joepera, ThinkStock)
computers (Jarek Joepera, ThinkStock)

Bail was set at $2.5 million for Omar Amanat after his arrest Wednesday in Short Hills, New Jersey. A lawyer for Amanat declined comment after he appeared in Manhattan federal court.

Prosecutors said Amanat and two others conspired to manipulate the market in shares for Kit Digital Inc. from 2008 to 2011. Diego Rodriguez, head of the New York FBI office, said Amanat hid Digital’s losses from investors and falsely inflated the company’s share price.

He was charged with conspiracy, wire fraud and aiding and abetting investment adviser fraud. Authorities said a co-defendant has pleaded guilty and is cooperating. A lawyer, Rima Jameel, is being sought as a fugitive.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

Sign up for the NJ1015.com Newsletter

Get the best of NJ1015.com delivered to your inbox every day.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://nj1015.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.