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by Mike Caswell
New Jersey resident Boris Rubizhevsky has pleaded guilty to taking part in the manipulation of Biocube Inc., a company that claimed to be developing a marijuana breathalyzer. He entered the plea in a 20-minute appearance before New York Judge Steven Tiscione on Wednesday, Jan. 3. The judge allowed him to remain free on a $500,000 appearance bond. (All figures are in U.S. dollars.)
Prosecutors said that Mr. Rubizhevsky and others, including a group of Canadian promoters, had planned to boost Biocube with claims about its supposed marijuana breathalyzer. According to the government, the men had shares poised for sale offshore before the FBI moved against the group. Agents arrested the men after they discussed their plan with an informant.
It is not clear what the terms of Mr. Rubizhevsky's plea are, as prosecutors have not released his plea agreement. The charge to which he pleaded guilty is conspiracy to commit securities fraud. He faces a maximum of five years in jail. His guilty plea is the second to arise in the case, with New Jersey resident Dimitrious Argyros previously pleading guilty as well.
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