RealNews

Duo Charged in Anti-Terror Device Scam

A husband and wife have been charged in a scheme to promote a device after Sept. 11 that was supposed to protect people against terrorism attacks, but was actually a yellow filing cabinet with flashing lights and a siren on top, officials said. The device led to a fourfold increase in the stock price of the couple’s small company — and allowed defendant Stewart Kaiser to sell shares that were in his mother’s name at a substantial profit, according the FBI complaint. Kaiser is charged with stock fraud and misleading investors in the company he founded, R-Tec Technologies. Both he and his wife, Nancy Vitolo, are charged with making false statements to investigators. Full Story

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