Man Fined for Fake Messages About MGM

California officials won an injunction and fines against a man accused of posting phony messages about MGM on an Internet bulletin board last year, in alleged attempt to manipulate the share price.

Victor Idrovo of Manhattan Beach agreed to pay $4,500 in fines and costs and quit posting false messages, officials at the California Department of Corporations said Tuesday.

Idrovo neither admitted nor denied the allegations that he impersonated former MGM Chairman Frank Mancuso in two Yahoo Web postings, the first aimed at boosting the stock, the second aimed at causing it to fall.

The state said it found Idrovo in three days by reviewing Net postings and Internet service provider records. Officials have been working since to build their case, they said.