Port Jefferson man sentenced for $147M stock scheme

A Port Jefferson native will spend the next 10 years in prison for his role in a $147 million stock scheme.

Ronald Hardy pleaded guilty last summer to defrauding investors at firms in Melville.

According to prosecutors, he and others artificially boosted stock prices, convinced investors to buy stock, then sold shares he owned for a profit.

Investors lost millions.

Another man, Dennis Verderosa from Coram, was also sentenced to six years in prison after pleading guilty to conspiracy charges.