Three men accused of selling bogus stock have been arrested after turning themselves in.
A Broward-based boiler room operation called FMN Enterprise included 14 men who posed as telemarketers in order to sell stock they claimed was for green-technology companies, and promised investors healthy returns. The alleged fraud occurred from April to September 2009 and sold unauthorized stock for Helix Wind Inc. Investigators were tipped off by an investor who realized he had fallen for a scam.
The men face charges of racketeering, grand theft, violation regulations regarding securities and other fraud charges. Several other men were charged last month in connection with the scam and face charges of racketeering, conspiracy to commit racketeering and selling unregistered securities.