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Federal prosecutors charge Moorpark, Agoura Hills men with securities fraud

Bill Oxford

Investigators say multi-million dollar scheme involved artifically pumping up stock price, and then selling it.

Federal prosecutors say a Ventura County man is one of two people indicted in a multi-million dollar investment fraud scheme.

Kelly Kabilafkas of Moorpark was charged with conspiracy, and securities fraud. Prosecutors say he bought stock from a shell company for a wireless company. They say the 48-year-old man then teamed up with Jack Edward Daniels of Agoura Hills.

The company was rebranded, and money from other investors was used for a major marketing campaign to pump up the stock prices.

They say Kabilafkas then sold the stock, making millions. The two men are facing conspiracy, and securities fraud charges. They haven’t entered pleas to the charges yet.


Lance Orozco has been News Director of KCLU since 2001, providing award-winning coverage of some of the biggest news events in the region, including the Thomas and Woolsey brush fires, the deadly Montecito debris flow, the Borderline Bar and Grill attack, and Ronald Reagan's funeral.