(Bloomberg) -- The owner of a New York broker-dealer was charged with fraudulently inflating the price of two micro-cap stocks before selling them to investors, generating $17.2 million in gross trading proceeds.

Guy Gentile, 39, was indicted in federal court in Newark, N.J., where two Canadian stock promoters, Itamar Cohen and Michael Taxon, pleaded guilty last year to their role in the scheme, according to a statement by U.S. Attorney Paul Fishman.

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