• Story alerts
  • Letter to Editor
  • Pin it

Rancho Santa Fe consultant David Bahr pleaded guilty today to criminal charges to commit securities fraud by pumping up a penny stock named "iTrackr." According to the U.S. Attorney's office, Bahr spoke in late November with a person claiming he could arrange for stockbrokers to secretly invest clients' money in iTrackr. In return, Bahr would pay a kickback. But the so-called promoter making the call was from the Federal Bureau of Investigation (FBI). According to the U.S. Attorney's office, Bahr invested his own funds in iTrackr, advised others to do so, and arranged for dissemination of materials that oversated iTrackr's future profits. In a test run, Bahr paid a $3000 kickback to the FBI agent's bank account. Days later, agents searched his home and seized records.

  • Story alerts
  • Letter to Editor
  • Pin it

More from SDReader

Comments

Sign in to comment

Win a $50 Gift Card to
Solare Ristorante + Lounge

Join our newsletter list

Each newsletter subscription means another chance to win!

Close