Intellect Neurosciences, Pluristem Therapeutics other news

Onetime biotech financier David Blech will report to prison on Sept. 30 after pleading guilty in May to two counts of securities fraud. Blech was fined $1.3 million and sentenced to 48 months of imprisonment. The first count alleged that in 2007 Blech "engaged in a fraudulent scheme" to manipulate the market for Pluristem securities by using brokerage accounts under his control to sell off his holdings of the stock in a manner that disguised these sales for the purposes of "creating an illusion of greater liquidity" and so that the price of the stock would not significantly drop. The second count alleged that in 2008 Blech engaged in a similar scheme to manipulate the market for Intellect Neurosciences. ...