Three Penny Stock CEOs Charged in Stock Manipulation

Yesterday, three CEOs have been charged with an illegal penny stock manipulation ring. The three CEOs charged include Donald Klein, 40, of KCM Holdings Corp (KCMH); Douglas Newton, 66, of Real American Capital Corp (RLABD); and Thomas Schroepfer, 54, of Smokefree Innotec Inc (SFIO). Smokefree Innotec plummeted after the report was released yesterday. Shares closed yesterday down over 80%, moving from about three cents to under one cent. Read more here.