Short Hills Investor Charged With Fraud: Prosecutor

Short Hills, NJ – A Short Hills investor was arrested on Wednesday and charged with participating in a multi-million fraud conspiracy, prosecutors say.

Prosecutors stated that Omar Amanat and two others conspired to manipulate the market in shares for Kit Digital Inc. from 2008 to 2011, the Associated Press reported.

Diego Rodriguez, head of the New York FBI office, said Amanat allegedly hid the company’s losses from investors and falsely inflated its share price.

Amanat was charged with conspiracy, wire fraud and aiding and abetting investment adviser fraud. Authorities said a co-defendant has pleaded guilty and is cooperating. A lawyer, Rima Jameel, is being sought as a fugitive.

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