Tag Archives: SEC’s Division of Enforcement

SEC Charges Microcap Fraudsters And Billionaire for Roles in $27 Million Market Manipulation Schemes

Last Friday, the Securities and Exchange Commission charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock. According to the SEC’s complaint, from 2013 to 2018, a group of prolific

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SEC Charges U.K. Brokerage Firm and Others for Manipulative Trading in U.S. MicroCap Stocks

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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SEC Obtains Final Judgment Against Former Boiler Room Operator

Yesterday, the SEC announced that is has obtained a final judgment against a former boiler room operator charged with participating in a fraudulent scheme to artificially inflate the per share price of penny stocks. The SEC’s complaint alleged that in 2010, an owner of penny stocks, James Price, proposed to a stock promoter, Brian Kingsfield, that they engage others to

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SEC Files Fraud Charges Against Microcap Company and Its CEO

On Monday, the Securities and Exchange Commission charged a microcap company and its CEO with conducting a fraudulent scheme to mislead investors about the company’s success and prospects, hide its losses, inflate the value of its assets, and artificially prop up its stock price. The SEC’s complaint, filed on December 4, 2017, alleges that Premier Holding Corp. (OTCQB: PRHL), a

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MicroCap Audit Firm Charged With Fraud

This week, the SEC charged Anton & Chia LLP with conducting flawed audits and reviews of financial statements, which are critical sources of information for investors. The SEC’s Enforcement Division alleges that Anton & Chia and its accountants ignored numerous indications of fraudulent financial reporting by three of the firm’s audit clients – microcap companies Accelera Innovations Inc. (OTCPINK: ACNV), Premier Holding Corp.

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SEC Enforcement Division’s Report on Priorities and FY 2017 Results Make Limited MicroCap Mentions

Earlier this month, the SEC Enforcement Division issued a report highlighting its priorities for the coming year as well as a review of enforcement actions that took place during FY 2017. In the report, Co-Directors Stephanie Avakian and Steven Peikin stated their overall enforcement approach: “Vigorous enforcement of the federal securities laws is critical to combat wrongdoing, compensate harmed investors,

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SEC Charges Canadian Stock Promoter With MicroCap Market Manipulation

Last Friday, the SEC announced fraud charges against a Canadian man behind an alleged scheme to manipulate the shares of a penny stock. The SEC’s complaint alleges that Micheal A. Skerry, of New Westminster, British Columbia, Canada, illegally profited by manipulating the price and demand of Success Holding Group International, Inc. (OTC: SHGT), a penny stock whose securities were quoted on

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Small Cap Analyst Barred For Illegally Cashing In On Research Reports

On Tuesday, the Securities and Exchange Commission charged a stock market analyst with insider trading prior to the publication of research reports and articles he authored with the false disclaimer that he wasn’t trading in the companies being covered. He agreed to settle the charges and be barred from trading in penny stocks for the rest of his life. The

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SEC Suspends Trading in MicroCap Purporting Involvement in Hurricane Harvey Relief Efforts

Last Friday, the Securities and Exchange Commission suspended trading in a company amid questions surrounding its statements about sending response teams and equipment to help with Hurricane Harvey disaster recovery efforts in Houston and surrounding areas. The SEC’s trading suspension order says that a recent press release issued by Texas-based Grupo Resilient International claimed that the company added a “FEMA approved

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