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‘Porn’s New King’ pleads guilty to manipulating company shares
Jason Galanis, dubbed “Porn’s New King” in 2004 for his investments in Internet porn technology, pleaded guilty Thursday to manipulating shares of publicly traded company Gerova Financial — one day after his 73-year-old dad copped a plea in the same case. “I knew the conduct was not correct. I wasn’t aware of statutes, but I knew the behavior was incorrect, possibly illegal,” Galanis, 46, told a Manhattan federal judge. On Wednesday, his dad, John “Yanni” Galanis, pleaded guilty to creating false demand for Gerova’s stock by bribing investment advisers to purchase it for their clients. The dad’s ... (full story)