NEW YORK/LONDON (Reuters) – The U.S. Department of Justice on Friday unveiled criminal charges against 10 defendants, including London-based brokerage Beaufort Securities Ltd, over their alleged roles in a more than $50 million stock fraud and a laundering scheme involving a late work by Pablo Picasso.
Prosecutors in Brooklyn, New York, said Beaufort and two of its managers, Peter Kyriacou and Vinesh Canaye, defrauded investors from March 2014 to February 2018 by hiding their ownership in and manipulating prices of U.S. stocks, including throughpump-and-dump schemes.
It also said eig…
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