BOSTON (AP) — The founder and operator of an asset management firm pleaded guilty Monday to engaging in a securities fraud scheme that netted about $164 million, federal prosecutors said.

Roger Knox, 49, pleaded guilty to securities fraud and conspiracy to commit securities fraud before U.S. District Court Judge Nathaniel Gorton in federal court in Boston.

Knox and others operated a firm based in Switzerland called Silverton, later renamed Wintercap. Through this business, Knox ran market manipulation schemes, including “pump and dump” frauds, selling massive quantities of securities on behalf of control groups who secretly owned the stock, and who simultaneously artificially inflated the price and trading volume of the shares through promotional campaigns.

Knox was the fourth person to plead guilty. They all await sentencing.

He faces 25 years in prison at sentencing on April 23.

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