Tag Archives: convertible promissory notes

SEC Charges Microcap Fraudster with Running a Pump-and-Dump Scheme

This week, The Securities and Exchange Commission charged David M. Loflin for his role in a pump-and-dump scheme in the stock of Greenway Design Group, Inc., a Phoenix, Arizona company that was secretly controlled by Loflin’s now-deceased business partner. According to the SEC’s complaint, in 2013, Loflin helped his business partner gain control of Greenway, using a front company to

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SEC Files Charges Against Magna Group For Microcap Stock Fraud

Last week, the Securities and Exchange Commission announced charges against four individuals and related businesses for their roles in two microcap frauds and unlawful securities offerings. In sum, the alleged illegal transactions resulted in proceeds of more than $25 million. According to the SEC’s complaint, from approximately December 2012 to June 2013, microcap stock financier Magna Group, which was founded

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