08/19/2013 04:40 EDT | Updated 10/19/2013 05:12 EDT

Sandy Winick, Canadian Accused Of Masterminding Penny Stock Fraud, Captured In Thailand

A Canadian man accused of masterminding an international penny stock fraud scheme that swindled investors out of more than $140 million has been arrested in Thailand.

The FBI says 55-year-old Sandy Winick was arrested over the weekend.

Thai newspaper Bangkok Post reports that he was arrested in an apartment in the city and is awaiting extradition to the U.S.

Winick is one of four Canadians the FBI says were involved in a massive "pump and dump'' scheme that generated more than $120 million in investments by tens of thousands of people in the United States, Canada and 33 other countries.

One of the Canadians was previously arrested in Ontario and another one was arrested in the U.S., along with five other American suspects.

Gregory Curry, 63, is also wanted in the alleged scheme.

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