On October 10, 2018, a U.S. District Court for the Eastern District of New York entered a final judgment on consent against Philip Kueber, who was charged with orchestrating a fraudulent investment scheme using microcap issuer Cynk Technology Corp. The SEC’s complaint, filed July 31, 2015, alleged that Kueber concealed his control of Cynk and its purportedly non-restricted shares through
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On Tuesday, the CEO of a microcap company that claimed to own valuable patented drug delivery technology was sentenced in federal court in Boston in connection with a scheme to manipulate the market for his company’s publicly traded stock. Learned Jeremiah Hand, 59, of Durham, N.C., was sentenced by U.S. District Court Chief Judge Patti B. Saris to nine months
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Last week, the Securities and Exchange Commission charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension. According to the SEC’s complaint filed in federal court in southern California on July 6, stock promoter Gannon Giguiere took control of a purported medical
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On Friday, the SEC charged a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly. He allegedly sold the bulk of his stock and reaped more than $1.1 million in illicit profits after his promotions caused the share prices and trading volumes to skyrocket. The
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On Friday, the Securities and Exchange Commission announced securities fraud charges against a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities of HD View 360 Inc. (OTC: HDVW), a U.S.-based microcap issuer. The SEC further announced the institution of an order suspending trading in the securities of HD View. The SEC also announced charges against
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