Yesterday, the SEC announced public admin proceedings against William Goode. At various times, Goode was a founder and managing director of Peachtree Capital, LLC (“Peachtree”), a financier of microcap companies, and a founder and associated person of East Main Stock Transfer, Inc., a transfer agent registered with the SEC.

The SEC’s complaint alleged that Goode sold unregistered shares of Alternaturals, Inc., MedGen, Inc., Manzo Pharmaceuticals, Inc., and Solpower, Inc., in the absence of any applicable exemption from the registration requirements of Section 5 of the Securities Act.

The complaint further alleged that in connection with many such sales, Goode provided false documentation to market participants, including broker-dealers and transfer agents, in order to facilitate the sales. This false documentation included backdated promissory notes used to give the impression that Goode had held the unregistered shares he sold for much longer than he actually did. Finally, the complaint alleged that Goode’s sales of certain unregistered securities, resulting in profits of over $2,000,000, were timed to occur contemporaneously with material misstatements by the issuers orchestrated by his business partner.

The SEC ORDERED that Goode be barred from association with any broker, dealer,investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.

Learn more HERE.