Airborne Wireless Owner Owes $44 Million Disgorgement for Scheme

The owner of Airborne Wireless Network must pay the SEC a $44 million disgorgement after the agency showed that he engaged in a “pump and dump” stock price scheme, a New York federal district court said.

Kalistratos Kabilafkas must also pay $12.4 million in pre-judgment interest, and $21.2 million in civil penalties. Judge Colleen McMahon of the US District Court for the Southern District of New York said in a Tuesday order. And judgment was entered against Airborne in the amount of a $22.7 million disgorgement, $5.4 million in pre-judgment interest, and $1.2 million in civil penalties, the order said. ...