Another MicroCap Shell Factory Charged With Fraud
Today, the SEC charged Sheldon R. Rose with operating a shell factory. In a situation similar to that of attorney Gregg Jaclin’s May charges, Rose is charged with running “a scheme to register and sell stock in blank check companies masked as promising startups to illicitly profit off the investing public”.
As part of Rose’s settlement, Rose has been barred from future penny stock offerings or from serving as an officer or director of a public company. An SEC administrative law judge will determine monetary sanctions.
The SEC list 17 companies that Ross manufactured as part of his scheme, some of which are still trading as public companies today. See the table below for a list of Rose’s shells and the dates in which there was a reverse merger change in control.