Tag Archives: Trading Suspension

Court Enters Final Judgment in Microcap Fraud Case

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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FBI Undercover Work & SEC Trading Suspension Leads To Charges In Microcap Fraud Schemes

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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MicroCap Stock Suspended By SEC for Fraudulent Press Release

Yesterday, the SEC temporarily suspended trading in ENFL’s securities due to concerns about the accuracy and adequacy of information in the marketplace about, among other things, the company’s status with OTC Markets Group Inc. as stated in a press release issued on March 19, 2018. Efuel EFN Corp. (EFLN) published a press release on March 19, 2018 that misrepresented a

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SEC Suspends Trading in Three MicroCap Issuers Claiming Involvement in Cryptocurrency and Blockchain

Last Friday, the SEC suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC’s trading suspension orders state that recent press releases issued by Cherubim Interests Inc. (CHIT), PDX Partners Inc. (PDXP), and Victura Construction Group Inc. (VICT) claimed that CHIT, PDXP, and VICT acquired AAA-rated assets from

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SEC Suspends Trading in OTC Chinese Blockchain Company

Last Friday, the SEC announced the temporary suspension of trading in the securities of UBI Blockchain Internet, Ltd. (“UBIA”). Prior to its suspension, UBIA was quoted on the QB tier of the OTC Markets. According to UBIA’s business description on OTCMarkets.com, “UBI Blockchain Internet, LTD. business encompasses the research and application in blockchain technology with a focus on the Internet of

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SEC Suspends OTC Crypto Company

  Last week, the SEC temporarily suspended trading in shares of The Crypto Co. (OTC: CRCW) on concerns about “accuracy and adequacy” of information about the company. According to CRCW press releases, the company “is one of the first publicly traded technology companies in the digital currencies and blockchain sector. The Crypto Company offers a portfolio of digital assets, technologies, and

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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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SEC Suspends Trading of Another OTC Cryptocurrency Company

Last week, the SEC suspended trading in First Bitcoin Capital Corp. (OTC: BITCF), a company engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. According to company press releases, BITCF is “the first publicly-traded cryptocurrency and blockchain-centered company “. BITCF’s stock is up over 6000% in 2017. Upon suspension on August 24, 2017, BITCF had a

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SEC Suspends Trading in 42 OTC Companies

  The temporary suspension of trading in 42 issuers, commenced today at 9:30 a.m.EDT, and will terminate at 11:59 p.m. EDT on July 10, 2017. The SEC temporarily suspended trading in the securities of 42 companies because of questions regarding the adequacy and accuracy of information about the companies. The order was entered pursuant to Section 12(k) of the Securities Exchange Act of

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