SEC Charges Healthcare Company and Its Founder with Multimillion Dollar Fraud
On May 19, 2021, the Securities and Exchange Commission charged a New Jersey-based healthcare company and its founder, Josiah David (formerly known as Dennis Lee), with fraudulently raising nearly $4 million from over 130 investors nationwide through the sale of membership units in the company.
Category: Blog Posts Tags: Allison David, Denis Joachim, Dennis Lee, Dodd Frank Bounty, dodd-frank, doj, Donna Joachim, fbi, fraud, Indictment, Josiah David, Money Laundering, Premier Healthcare Solutions LLC, Provision Corporate LLC, scam, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, The Total Financial Group Inc, trading suspension, US Attorney's Office, US Department of Labor, USAO, wire fraud
Two Jackson Men Charged in Multi-Million Dollar Fraud Scheme Conspiracy
On May 20, 2021, Ted Brent Alexander and Jon Darrell Seawright both of Jackson, Mississippi, were indicted by a federal grand jury for their roles in a large multi-million dollar Ponzi scheme that adversely affected hundreds of victims across multiple states over about eight years.
Category: Blog Posts Tags: Alexander Seawright Transportation LLC, Arthur Lamar Adams, Baker Donelson, bankruptcy fraud, Brent Alexander, criminal, Dodd Frank Bounty, dodd-frank, doj, Indictment, Jon Darrell Seawright, lumber, Madison Timber Properties LLC, Mississippi, ponzi scheme, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, Ted Brent Alexander, trading suspension, wire fraud
Going Public: Myths and Misinformation about Reverse Mergers
Myths and misinformation: The truth behind reverse mergers. What is really the best way to go public? Direct Public Offering vs Reverse Merger – which is the best choice for your business? How to save money and time.
Category: Blog Posts Tags: 1-a, bad actors, convertible note lender, corporate actions, custodianship petition, Direct Listing, Direct Listing Lawyer, Direct Public Listing, Dodd Frank Bounty, dodd-frank, DTC chill, DTC review, FINRA, Form 10, Form 10 Registration, Form 10 Registration Statement, Form F-1, Form S--1 filing, Form S-1, Form S-1 Attorney, Form S-1 Attorneys, Form S-1 Capital, Form S-1 Capital Raise, Form S-1 Law Firm, Form S-1 Law Firms, Form S-1 Lawyer, Form S-1 lawyers, Form S-1 Listing, Form S-1 Offering, Form S-1 Prospectus, Form S-1 Quiet Period, Form S-1 Registered Offering, Form S-1 Registered Offerings, Form s-1 registration statement filing, Form S-1 Registration Statements, Form S-1 Resale, Form S-1 Resales, Form S-1 Selling Shareholder, Form S-1 Selling Shareholder Requirements, Form S-1 Selling Stockholder, Form S-1 Selling Stockholder Requirements, Form S-1. Registration Statement, Go Public, Go Public Attorney, Go Public Lawyer, Going Public, Going Public Attorneys, Going Public Lawyer, Going Public Lawyers, going public transactions, initial public offering, IPO, Prospectus, Prospectus Requirements, public vehicle, pump and dump, Regulation S-K, Reverse Merger, Rule 144, Rule 6490, S-1, S-1 Going Public, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Quiet Period, SEC Registration Statement, SEC Reporting Requirements, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, securities offerings, Shell Company, shell hijacking, shell peddler, stock manipulation, stock promotions, stock registration, Toxic Convertible Note, toxic debt, toxic financing, Toxic Financings, toxic funding, trading suspension, unregistered stock
David C. Coggins Sentenced for $1.3 Million Securities Fraud Scheme
On Friday, May 14, 2021, David C Coggins, 42, of Miami, was sentenced to 51 months in prison, followed by 36 months of supervised release, and ordered to pay $1,305,000 in restitution for operating an investment scheme in which he used investor funds to repay other investors and misappropriated funds for himself, including to pay for personal use, a vehicle and travel.
Category: Blog Posts Tags: Alok Kumar, Coral Gables Asset Holdings LP, Coral Gables Asset Management LLC, Coral Gables Capital LP, David C Coggins, Dodd Frank Bounty, dodd-frank, Indictment, investment advisor, investment fund, investment scheme, Jawad Addoum, Miami, misappropriated funds, prison, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Complaint, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, trading suspension
There has never been a better time to be a Whistleblower
Since the start of the whistleblower program, the SEC has received more than 26,000 whistleblower submissions. Those tips have led to more than $3.5 billion in investor losses being recovered and over $842 million in awards being paid out to whistleblowers
Category: Blog Posts Tags: Dodd Frank Bounty, dodd-frank, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, trading suspension, whistleblower program
SEC Charges Broker-Dealer for Failures Related to Filing Suspicious Activity Reports
The Securities and Exchange Commission announced settled charges against GWFS Equities Inc. (GWFS), a Colorado-based registered broker-dealer and affiliate of Great-West Life & Annuity Insurance Company, for violating the federal securities laws governing the filing of Suspicious Activity Reports (SARs).
Category: Blog Posts Tags: bad actors, broker-dealer, Dodd Frank Bounty, dodd-frank, FinCEN, fraud, Great-West Life & Annuity Insurance Company, GWFS Equities Inc, SARS, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Order, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, Suspicious Activity Report, trading suspension, US Treasury Department's Financial Crimes Enforcement Network
Mark Lisser Pleads Guilty to Securities Fraud Conspiracy
Earlier today, in federal court in Central Islip, Mark Lisser pleaded guilty to securities fraud conspiracy for lying to customers about investments in shares of several companies prior to the initial public offering (IPO) of those companies.
Category: Blog Posts Tags: boiler rooms, Department of Justice, Dodd Frank Bounty, dodd-frank, doj, guilty plea, Indictment, Initial Public Offerings, IPO, knightsbridge, Knightsbridge Private Partners LLC, Mark Alan Lisser, Mark Lisser, pre-IPO, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Fraud Conspiracy, Securities Law Defense, Securities Lawyer, trading suspension
SEC Charges Under Armour Inc With Disclosure Failures
The Securities and Exchange Commission charged sports apparel manufacturer Under Armour Inc. with misleading investors as to the basis of its revenue growth and failing to disclose known uncertainties concerning its future revenue prospects. Under Armour has agreed to pay $9 million to settle the action.
Category: Blog Posts Tags: Dodd Frank Bounty, dodd-frank, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Order, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, stocks, trading suspension, Under Armour Inc
Court Enters Judgments Against Promoters in Pump-And-Dump Scheme
The Securities and Exchange Commission announced that the U.S. District Court for the Central District of California entered final judgments against the remaining three defendants in a 2019 SEC action charging them for their alleged roles in a pump-and-dump scheme in the stock of southern California beverage and cannabis company Green Cures & Botanical Distribution, Inc (GRCU).
Category: Blog Posts Tags: Andrew Coldicutt, attorney letter, Calvin Ross, Cameron Linton, Christel Scucci, Chromocure Inc, Convertible Note, David N Osegueda, Dodd Frank Bounty, dodd-frank, DSR, E-Lionheart Associates, Edward Bronson, Fairhills Capital, fraud, GRCU, Green Cures & Botanical Distribution Inc, HFBG, HYBE, Hybrid Energy Holdings Inc, IGNT, IHUB, In Step Holdings LLC, Ingen Technologies Inc, investorshub, Ishmail Calvin Ross, Jason Ruppert, Jessica Snyder, Karen Beach, KKUR, Lawrence Powalisz, Mark Fisher, New Generation Consumer Group, NGCG, OTC Markets, Pamela Ruppert, Penny Hall of Fame Beverage Inc, Penny stocks, pump and dump, scam, Scottsdale Capital Advisors, SEC, SEC Action, SEC Administrative Proceeding, SEC Attorney, SEC Award, SEC Bounty, SEC Claim, SEC Defendant, SEC Defense, SEC Division of Enforcement, SEC enforcement, SEC Fraud, SEC Injunction, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Penny Stock Bar, SEC Trading Suspension, SEC Whistleblower, SEC whistleblower Award, SEC whistleblower bounty, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Law Defense, Securities Lawyer, share selling scam, Stephen Carnes, Stock Goodies, stock manipulation, Stock Mobsters, Stock Promotion, Toxic Lender, toxic lending, trading suspension, Triton Distribution Systems Inc, TTDZ, Undersea Recovery Corporation, UNDR, Viper Networks Inc, VLBI, VPER, Wall Street Surfers, XALL, Xalles Holdings Inc, Zachary Logan
TD Ameritrade to restrict orders in Caveat Emptor designated OTC securities to liquidating trades only
According to a statement posted on the TD Ameritrade website, the popular trading platform will restrict orders in Caveat Emptor designated OTC securities to liquidating trades only starting May 25, 2021.
Robinhood Legal Battle Updates
The Securities and Exchange Commission case against Robinhood Financial moved one step closer to a payout when the SEC issued an Order appointing JND Legal Administration as the Fund Administrator of the Fair Fund established for the $65,000,000 that Robinhood Financial had agreed to pay on December 17, 2020.
Category: Blog Posts Tags: Broker, class action, commission free, congress, controversy, crash, crSecurities and Exchange Commission, Fair Fund, fine, Fund Administrator, GameStop, glitch, GME, hacking, initial public offering, IPO, JND Administration, lawsuit, Massachusetts Securities Division, OTC Markets, pandemic, Penny stocks, Robinhood, Robinhood Financial, SEC, SEC Complaint, SEC Order, short squeeze, stock trading, suicide, wall street
SEC Charges Ubong Uboh and Tyler Crockett for Using a Call Room to Manipulate Stocks
On April 20, 2021, the Securities and Exchange Commission filed charges against Ubong Uboh and Tyler Crockett for soliciting investors to purchase shares of several microcap issuers from a call room in Miami, Florida.
Category: Blog Posts Tags: Andrew Dale Wise, Anthony Killarney, ANVV, AV1 Group Inc, AVOP, BEAG, BFTI, Bingo Nation, BioHemp International Inc, BKIT, Blacklight SA, BLTO, Boiler Room, Call Room, CBDC, Christopher Lee McKnight, CURE Pharmaceutical Holding Corp, CURR, Cyberfront Software Inc, CYBF, doj, DRNG, Drone Guarder, EMS Find Inc, EMSF, Environmental Packaging Technologies Holdings Inc, EnviroTechnologies International Inc, EPTI, ETII, ETKR, EV Transportation, Evolution Technology Resources Inc, EVTP, Garret O'Rourke, GLBB, Global Quesst Ltd, Indictment, Integrated Ventures Inc, INTV, Kenneth Ciapala, KOVR, Link Reservation Inc, LRSV, Matthew Ledvina, Miami, Michael J Black, Milan Patel, Morrie Tobin, NHEL, OMID, Omid Holdings Inc, OTC Markets, Penny stocks, pump and dump, Rajesh Taneja, Roger Knox, scam, SEC, SEC Complaint, Securities and Exchange Commission, SPRN, Steve Bajic, stock manipulation, stock scam, Stock Tips, Supernova Energy, Switzerland, Tyler Crockett, Ubong Uboh, Ulrik Debo, UPPR, US Attorney's Office, VIBI, Vilacto Bio Inc, ZENO, Zenosense
Five Individuals Charged in Fraud Stock Offering, Stock Manipulation and Money Laundering Scheme
On Wednesday, April 14, 2021, five Individuals were indicted for a stock manipulation/money laundering scheme involving a private oil and gas company and two public Issuers, OrgHarvest Inc (“ORGH”) and ERF Wireless Inc (“ERFB”). The five-count indictment filed… Read More
Category: Blog Posts Tags: Angie Touhoulioutis, criminal charges, Deanna Looney, doj, ERF Wireless Inc, ERFB, Escalera Ranch, fbi, FINRA, Franklin Ross Inc, fraudulent offering, Greer, Indictment, James Christopher Pittman, Katie Mathews, Le Cle Minerals, Magness, Mark Ross, Michael Greer, Money Laundering, Naomi Ross, ORGH, OrgHarvest Inc, OTC Markets, Penny stocks, Rainmaker Advisors LLC, Richard Dale Sterritt Jr, Richman Energy, Robert Magness, Robyn Straza, Ross, scam, SEC, SEC suspension, Securities and Exchange Commission, Securities Fraud, Sterritt, stock manipulation, stock offering, Straza, undercover agent, WAST, WasteMasters Inc, wire fraud, Zona, Zona Energy Inc
Six Individuals Charged with a Multi-Million Dollar Scheme to Peddle Fraudulent Stocks
On Wednesday, April 7th, six South Florida residents were indicted by a federal grand jury on charges that they defrauded investors of approximately $21 million by falsely claiming that the investors’ money would go towards the development of… Read More
Category: Blog Posts Tags: 7S Oil & Gas LLC, Aegis Oil LLC, Alexander Charles White, American Green Group Inc, Bidville Inc, boiler rooms, Bonnano Crime Family, CFTC, Cindy Vandivier, Cirilium Holdings Inc, Commodity Futures Trading Commission, conspiracy to commit mail fraud, crime family, Cypress Wealth Management Group Inc, David Goertz, Dough Wright, fbi, federal grand jury, FINRA, fraud, Gerald Parker, GLUV Corp, iBID USA Inc, Indictment, investors, Joseph Charles, kickbacks, LH Ross & Company Inc, Madison Brooke, Madison Brookes, Magic Media Inc, Michael Assenza, mob, mobile gaming application, Money Laundering, otc, Paul Geraci, Paul Vandivier, Penny stocks, Phillip Polizzotto, prison, Renewable Corp, Royal Palm Capital, Saleen Automotive Inc, Salvatore Puccio, scheme, SEC, Securities and Exchange Commission, Securities Fraud, Social Voucher, Social Voucher.com Inc, South Florida, Stocket Inc, stocks, Ted Lamar, Ted Romeo, telemarketing, undisclosed commissions, wire fraud
Direct Public Offering Attorneys, DPO, Go Public Direct
A direct public offering (“Direct Public Offering”) provides a viable solution to these companies. Using a Direct Public Offering to go public direct can allow the company to sell its shares directly to investors without the use of an underwriter.
Category: Blog Posts Tags: 10-K, 10-Q, Direct Public Offering, Direct Public Offering Attorney, Direct Public Offering Attorneys, Direct Public Offering Lawyer, Exchange Act, Form 1-A, Form 1-K, Form 1-SA, Form 1-Z, Form 211, Form S-1, Form S-1 Attorney, Form S-1 Lawyer, Form SEC, Go Public Direct, Going Public Attorney, Going Public Attorneys, Going Public Lawyer, Going Public Lawyers, Market Maker, Registered Direct Public Offering, Registration Statement, Regulation A, Regulation A Qualification, Regulation A Reporting, Rule 15c2-11, SEC Effectiveness, SEC Qualification, SEC Reporting, SEC Reporting Obligations, SEC Reporting Requirements, Securities Act, Sponsoring Market Maker
SEC Cleans up OTC Markets – SEC Trading Suspension of 71 Penny Stocks
On February 14, 2021, we published an article alerting the public about what we calculated to be the start of a new initiative by the Securities and Exchange Commission (“SEC”) to reign in the market manipulation of no information stocks through Social Media.
Since that article, the SEC has suspended 70 more stocks, in addition to the SpectraScience Inc (SCIE) suspension that kicked off the string of activity.
Category: Blog Posts Tags: AAXT, ABVG, ADTC, ARBI, ARCS, ARHI, AXCG, BBDA, BLSP, BNGI, BRTE, BTAM, Caveat Emptor, CCAQ, CCHZ, CE, CGDI, corporate hijacking, CRRSQ, CUBG, custodianship petition, defunct, Delinquent filer, DKGR, DLII, EENC, EENR, EHOS, ENGY, ENZH, EVTI, GLWA, GSVI, GYOG, HAHI, HBTC, HERC, HLXW, HYII, IFCI, IPWG, IYXI, JRIV, LGTS, LTNC, market manipulation, marketplace integrity, MEDT, MGLO, MLPH, MRIB, MTPR, NEMD, no information stocks, NTLK, NWUC, OLFC, ONLI, OSCN, OTC Markets, PDPR, Penny stocks, pink sheets, PNLT, PTAH, PTTN, pump and dump, reinstatement, RNUE, ROKR, scam, SCIE, SEC, SEC suspension, Securities and Exchange Commission, Securities Fraud, SKAJ, Social Media, social media hype, SPDE, SPXP, STCO, stock manipulation, Stock Promotion, stock pump, suspension risk, TNGNQ, TPIL, TSNI, UNGS, USAM, VCLD, WGIH, WHLX, WOFA, WPEC, WRFX, XCRP
SEC Says Unregistered Dealer Almagarby’s Convertible Notes Are Toast
On August 17, 2020, Judge Marcia G. Cooke, persuaded by the SEC’s arguments, handed down an order granting the SEC’s motion for summary judgment against Ibrahim Almagarby. The SEC is now seeking total financial sanctions amounting to $1,147,277, penny stock bars against both Almagarby and his company, Microcap Equity Group LLC, and requests that the court order Microcap Equity to surrender the remaining shares of stock it holds for cancellation and to surrender its remaining conversion rights under any convertible notes still in its possession.
Category: Blog Posts Tags: Aluf Holdings, AXCG, Axxess Pharma, Big Apple Consulting USA Inc, Broker, broker-dealer, Bulova Technologies Group, CD International Enterprises, Convertible Notes, CUBA Beverage Company, Daniels Corporate Advisory Company, dark, death spiral financing, debt conversion, defunct, Dewmar International BMC, East Coast Diversified Corp., ELRA, Elray Resources, Energy Revenue America, Eyes on the Go, Gold & Silver Mining of Nevada, Gold and GemStone Mining Inc., Green Energy Enterprise, Green Energy Enterprises, Greenfield Farms Food, Grid Petroleum Corp./ Simlatus Corporation, GYOG, Halberd Corporation, HAON, Healthnostics, Healthy & Tasty Brands Corporation (a/k/a GRILLiT, Hybrid Coating Technologies, Ibrahim Almagarby, In Ovations Holdings, Inc, Indo Global Exchange(s) Pte, InoLife Technologies, InternetArray, John Fierro, judgment, Las Vegas Railway Express, LIG Assets, Ltd., Marcia G Cooke, Medical Care Technologies Inc., Microcap Equity Group LLC, MyECheck, Next Galaxy Corp., North American Cannabis Holdings, OTC Markets, OTC Markets Group, Penny stocks, PM&E, PotNetwork Holdings Inc., PPJ Healthcare Enterprises, QASP, Quasar Aerospace Industries, reverse split, Robert W Lowry, Rule 144, Sanomedics, SARS, scam, SEC, SEC Action, SEC Complaint, securities, Securities and Exchange Commission, securities law, Seven Arts Entertainment, stock trading, stocks, Suspicious Activity Reports, toxic financing, toxic funding, US District Court for the Southern District of Florida
Is the SEC Sending a Big Hint With Its Latest Penny Stock Suspension?
At the open of the trading session on February 11th, The Securities and Exchange Commission suspended trading in SpectraScience Inc (SCIE). It could be a precursor for a significant change in focus for the SEC to try to clean up a marketplace that has gone off the rails lately with an unprecedented amount of manipulative trading activity through the influence of Social Media.
Category: Blog Posts Tags: dead stock, Delinquent filer, Discord, fraud, IHUB, inactive stock, OTC Markets, Penny stocks, Reddit, SCIE, SEC suspension, Securities and Exchange Commission, Social Media, SpectraScience Inc, stock manipulation, stocks, Suspension Order, TikTok, Twitter, YouTube, zombie stock
The SEC charges Giuliani Associates Lev Parnas and David Correia
On February 4, 2021, the U.S. Securities and Exchange Commission announced charges against two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald Trump, alleging they raised $2 million from investors by making false and misleading representations.
Category: Blog Posts Tags: Adam Putnam, Alain Chalem, America First Action, Andrey Kukushin, Boris Vax, broker-dealer, Chuck Arnold, David Correia, doj, Donald Trump, Donald Trump Jr., Euro-Atlantic Securities, Face Up Entertainment Group Inc, FINRA, fraud, Fraud Guarantee, FUEG, Global Energy Producers, Ian Kass, Igor Fruman, Indictment, Ivanka Trump, Jared Kushner, Joe Biden, Lev Parnas, Maier Lehmann, Major, Michael Vax, Mike Pence, Mitchell Reisman, New York, OTC Markets, Penny stocks, Program Trading Corp, Rick Scott, Robert Grinberg, Ron DeSantis, Rudi Giuliani, Russia, scam, SEC, SEC Complaint, stock broker, Tel-Com Wireless Cable TV, Ukraine, US Securities and Exchange Commission
Two Recidivists That Met Behind Bars Busted for Securities Fraud
On January 8, 2021, the Securities and Exchange Commission announced settled charges against a Utah corporation, its principals, Mark W Wiseman and Clark J Madsen, and two securities fraud recidivists, Thomas J Robbins and Daniel J Merriman, for orchestrating two inter-related frauds resulting in approximately $11 million in investor losses to around 80 investors.
Category: Blog Posts Tags: ARC Holdings, Church of Jesus Christ of Latter-day Saints, Clark J Madsen, ConTXT, Daniel J Merriman, doj, fraud, Indictment, investment scheme, LDS Church, Mark W Wiseman, ponzi scheme, prison, Private Placement Memorandum, recidivists, Robert Whitaker, scam, SEC, Securities and Exchange Commission, Securities Fraud, Tek Corp, Thomas J Robbins, Tri Energy Inc, Utah
Executive Order 13959 Sees Its First Casualties
On November 12, 2020, President Donald Trump signed Executive Order 13959. The executive order prohibits all U.S. Investors (institutional and retail alike) from purchasing or investing in securities of companies identified by the U.S. government as “Communist Chinese military companies.” The prohibition went into effect on January 11, 2021, and immediately resulted in its first casualties, with 3 listed stocks being delisted and several OTC stocks having their symbols deleted.
Category: Blog Posts Tags: 13959, Advanced Micro-Fabrication Equipment Inc, Aero Engine Corporation of China, aerospace, Aviation Industry Corporation of China, Beijing Zhongguancun Development Investment Center, CCCGF, CCCGY, CCOHF, CCOHY, ChemChina, China, China Academy of Launch Vehicle Technology, China Communications Construction Company, China Construction Technology, China Electronics Corporation, China Electronics Technology Group, China General Nuclear Power Group, China International Engineering Consulting Corporation, China Mobile, China National Aviation Holding Co Ltd, China National Chemical Corporation, China National Chemical Engineering, China National Nuclear Corporation, China National Offshore Oil Corporation, China North Industries Group Corporation, China Nuclear Engineering & Construction Corporation, China Railway Construction Corporation, China Shipbuilding Industry Corporation, China South Industries Group, China Spacesat, China State Construction Engineering, China State Shipbuilding Corporation, China Telecommunications Corporation, China Three Gorges Corporation, China Unicom, China United Network Communications Group, Chinese Government, CHJHF, CHL, CHLKF, CHTEF, CHU, CHUFF, Commercial Aircraft Corporation of China Ltd, communications, Communist, construction, CRCCY, CRRC Corporation, CRRRF, CWYCF, CWYCY, Dawning Information Industry Co, Depart of Defense, Donald Trump, exchange-listed stocks, Executive Order, Executive Order 13959, FINRA, Global Tone Communication Technology Co Ltd, GOWIN Semiconductor Corp, Grand China Air Ltd, Hikvision, Huawei, INPRF, Inspur, LKCO, Luokong Technology Corporation, military, nasdaq, nyse, OTC Markets, Panda Electronics NJGPF, Semiconductor Manufacturing International Corporation, shipbuilding, Sinochem, SIUIF, SMICY, technology, U.S. Law, US Investors, XIACF, XIACY, Xiaomi Corporation
SEC Amends Rule 144 for Convertible Notes and Unregistered Dealers
On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares acquired upon exercise or conversion of market-adjustable securities. Market adjustable securities are most often promissory notes, warrants, or preferred stock convertible into common or other shares at a dramatic discount to the issuer’s trading price. These types of market adjustable securities are known as “toxic financings” or “death spirals” for a reason. These financings are typically provided by persons acting as unregistered dealers, and they have crippling effects on small businesses and investors.
Category: Blog Posts Tags: 3(a)10 exemption, broker-dealer, Convertible Note, convertible note lender, Convertible Notes, death spiral, Dilution, discounted stock, Edgar, Form 4, Legal Opinion, Legend Removal, Legend Removal Opinion, Market-adjustable securities, market-adjusted security, Penny stocks, preferred stock, promissory notes, proposed rule change, restricted stock, Rule 101(a), Rule 101(b), Rule 144, Rule 144 Legal Opinion, Rule 144 legal Opinions, Rule 144 Legend, Rule 144 Legend Opinion, Rule 144 Legend Removal, Rule 144 Legend Removal OTC Markets, Rule 144 Opinion, SEC, Section 15(a), Section 5, Securities Act Section 4(a)(1), Securities and Exchange Commission, Securities Exchange Act, tacking, Toxic Convertible Note, toxic financier, toxic financing, Toxic Financings, toxic funding, Toxic Lender, toxic lenders, Tradability Opinion, Transfer Agent Opinion, Unregistered Dealer, unregistered dealers, warrants
Nine Individuals Indicted in Global Resource Energy Inc (GBEN) “Pump and Dump” Scheme
On December 17, 2020, the US Department of Justice unsealed an Indictment against nine individuals charged in a “pump and dump” stock manipulation scheme involving Global Resource Energy Inc (GBEN) filed in the Northern District of Ohio, Eastern Division.
Category: Blog Posts Tags: Alberta Securities Commission, Avila P&H LLC, Belize, BLUF, BluForest Inc, Brian Kingsfield, Cathy Collins, CBDX, Cem Can, Charles Michael Miller, Christopher Joseph Bongiorno, Christopher Neumann, Complaint, Conspiracy to Commit Securities, Curative Biosciences Inc, Dale Pearlman, Dale Scott Pearlman, Damon Durante, David Michael Naylor, David Naylor, doj, Donald Lee Howard, Expert Market, fbi, fraud, Gary Kouletas, GBEN, Global Resource Energy Inc, Grey Market, Gulf Coast M&A Ltd, Healthient Inc, Hughe Duwayne Graham, Indictment, Intertech Solutions Inc, ITEC, Jason Allan Arthur, Jim Can, Larry Louis Matyas, Luxorious Travel Corp, LXRT, Mail Fraud, match trading, Money Laundering, NuBasalt International Inc, otc, OTC Markets Group, PAG Group LLC, paint the tape, Patrick Thomas, Paul Giarmoleo, Paul Spivak, Penny Stock, Petroteq Energy Inc, PQEFF, Private Resources LLC, pump and dump, Richard Andrew Mallion, Richard Eden, SEC, SEC suspensionMichael Strong, Securities Fraud, Sims Investment Holdings, SNAX, stock manipulation, Streamworx Consulting LLC, SYAI, Sycamore Ventures Inc, Systems America Inc, SYVN, Thomas Collins, Tyler Paulson, United States Department of Justice, United States Securities Commission, US Lighting Group Inc, USLG, Verde Asset Management LLC, View Point Health Investments LLC, Virtual MediClinic USA LLC, William Scott Marshall, wire fraud
SEC Approves NYSE Plan for Direct Listings
On Tuesday, the US Securities and Exchange Commission (SEC) approved a proposed plan by the New York Stock Exchange (NYSE) to let companies raise capital through direction listing.
SEC Charges The Cheesecake Factory For Misleading COVID-19 Disclosures
On Friday, the Securities and Exchange Commission (the “SEC”) announced that it had settled charges against The Cheesecake Factory Incorporated (CAKE) for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition.
Category: Blog Posts Tags: CAKE, Cheesecake Factory, County, COVID-19, David Overton, dodd-frank, FBI sting, FBI Undercover, FINRA Halt, Form 8-K, fraud, Investor Loss, Investor Victims, misleading, nasdaq, nyse, Officer Director Bar, OTC Markets, pandemic, Penny Stock, Penny Stock Bar, penny stock scam, penny stock scheme, penny stock sting, ponzi scheme, press release, Rule 12b-20, Rule 13a-11, Sarbanes-Oxley, Scalping, scam, SEC, SEC Action, SEC Actions, SEC Administrative Proceeding, SEC anti-fraud, SEC Attorney, sec bar, SEC Bounty, SEC Charge, SEC Charges, SEC Claim, SEC Complaint, SEC Defendant, SEC Defense, SEC Defense Attorney, SEC Defense Lawyer, SEC Division of Enforcement, SEC enforcement, SEC enforcement action, SEC Fraud, SEC Halt, SEC Injunction, SEC Investigation, SEC Law Firm, SEC Lawsuit, SEC Lawyer, SEC Litigation, SEC Order, SEC Penny Stock Bar, SEC Reporting Requirements, SEC Section 17(b), SEC Subpoena, SEC Suit, SEC Trading Suspension, Section 13(a), Section 17(b), Section 5 violation, Securities Act, Securities Act Section 17(b), Securities and Exchange Commission, Securities Attorney, Securities Fraud, Securities Indictment, Securities Law Defense, Securities Lawyer, securities violation, SPAC, stock manipulation, Stock Scalping, stock scheme, The Cheesecake Factory Incorporated, Toxic Lender, trading suspension, Unregistered Dealer, Wells Notice
House Passes Marijuana Decriminalization Bill
On Friday, the U.S. House of Representatives passed a historic bill that would end the federal prohibition of marijuana. The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act passed by a 228 to 164 margin.
Category: Blog Posts Tags: Arizona, Cannabis, cannabis stocks, CBD Denver Inc, CBD Life Sciences Inc, CBDD, CBDL, congress, Democrats, Jerry Nadler, marijuana, Marijuana Company of America Inc, Matt Gaetz, MCOA, Mississippi, Montana, MORE act, new jersey, Penny stocks, Reinvestment and Expungement (MORE) Act, Republicans, Social Life Network Inc, South Dakota, The Marijuana Opportunity, U.S. House of Representatives, U.S. Senate, WDLF
Nasdaq Announces New Proposed Listing Requirements to Advance Diversity
On December 1, 2020, the Nasdaq Stock Market LLC filed a proposal with the U.S. Securities and Exchange Commission (“SEC”) to adopt new listing rules related to board diversity and disclosure.
Category: Blog Posts Tags: African American, Alaska Native, Allakos Inc, Alliance for Board Diversity, Array Technologies Inc, Baidu Inc, bisexual, Black, board diversity, board of directors, Deloitte, diversity, ethic diversity, Ethnicities, exchange listing rulesNasdaq Global Select Market, Fortune 500, gay, hispanic, Jay Clayton, JD.com Inc, Joe Biden, LaCroix, Latinx, lesbian, LGBTQ, Mary Jo White, minorities, nasdaq, Nasdaq Capital Market, Nasdaq Global Market, Nasdaq Inc, NASDAQ stock market, Nasdaq stocks, National Beverage Corp, Native American, Native Hawaiian, nyse, Pacific Islander, Pinduoduo Inc, queer, SEC, SEC chair, transgender, U.S. Securities and Exchange Commission, White, woman
Congress passes a Bill that forces Chinese stocks to meet US accounting standards
The U.S. House of Representatives unanimously passed legislation on Wednesday that would kick Chinese companies off U.S. stock exchanges if they do not fully comply with the U.S. auditing rules.
Category: Blog Posts Tags: Accounting Fraud, Alibaba, BABA, Baudu Inc, BIDU, Chinese Stocks, congress, Donald Trump, fake sales, foreign stocks, fraud, FUTU, Futu Holdings, Hindenburg Research, Holding Foreign Companies Accountable Act, Janet Yellen, Jay Clayton, JD, JD.com, Joe Biden, Kandi Technologies, KNDI, legislation, LK, LKNCY, Luckin Coffee, nasdaq, NIO, Nio Inc, nyse, PCAOB, PDD, Pinduoduo, Public Company Accounting Oversight Board, regulators, sales fraud, scam, scrutiny, SEC, Securities and Exchange Commission, self-dealing, Senate, SINA, Sina Corp, Steven Mnuchin, Treasury Secretary, US House of Representatives, US listed stocks, US Treasury, VIPS, Vipshop
Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
Securities Lawyer, Thomas Craft And Disbarred Attorney, Richard Rubin Charged by SEC for Fraudulent Legal Opinions
Category: Blog Posts Tags: Administrative Action, Administrative Order, AFGC, Africa Growth Corp, American International Industries Inc, AMIH, attorney, attorney letters, AXXA, Bar Complaint, Citrine Global Corp, civil penalty, CTGL, DCLT, disbarred attorney, disgorgement, doj, E-Qure Corp, ECDC, ECMT, Ecomat Inc, EQUR, eWellness Healthcare Corporation, EWLL, Exxe Group Inc, fraud, Fraudulent Legal Opinion, Global Technologies Corp, Icoa Inc (ICOA), Indictment, Ivo Heiden, Jeffrey O Friedland, judgment, KinerjaPay Corp, KPAY, Legal Opinion, legal opinion letter scheme, Nexien BioPharma Inc, NXEN, opinion letters, OTC Markets, OTC Markets Group, OWC Pharmaceutical Research Corporation, OWCP, penny stock ban, Peregrine Industries Inc, PGID, prohibited attorney, registration statements, Richard J Rubin, S-1, S-8, SAML, Samsara Luggage Inc, scam, SEC, SEC Complaint, Securities and Exchange Commission, Securities Attorney, Securities Fraud, Smart Energy Solutions Inc, Suspect Detection Systems Inc (SDSS), Thomas Craft, Thomas J Craft, Thomas J Craft Jr, Tom Craft, Triumph Ventures Corp, USA Equities Corp (USAQ, VBIX, ViewBix Inc
OTCQX Listing and Eligibility – OTC Markets Lawyer
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 11,606 U.S. and global securities. Securities are placed into one of these three tiers based on the level of disclosure provided and the listing fees paid by the issuer.
Category: Blog Posts Tags: 15c211, ADRs, annual fees, Application fees, applying for OTCQX, broker-dealer, community banks, Corporate governance standards, disclosure standards, dividend-paying companies, Eligibility standards, fees, financial standards, FINRA, foreign Issuers, foreign ordinaries, Form 211, global securities, Going Public, International companies, large-cap companies, Market Maker, micro-cap companies, mid-cap companies, OTC Link, OTC Link ATS, OTC Link Lawyer, OTC Markets, OTC Markets Attorney, OTC Markets Group, OTC Markets Lawyer, OTC Markets Lawyers, OTC Pink, OTC PINK Lawyer, OTC Pink Market, OTC Pink Market lawyer, OTCQB, OTCQB Attorney, OTCQB Venture Market, OTCQX, OTCQX Attorney, OTCQX Best Market, OTCQX Eligibility, OTCQX fees, OTCQX Listing, OTCQX Sponsor, OTCQX Sponsor Attorney, Penny stocks, Pink, Pink Open Market, SEC, SEC reporting companies, Securities and Exchange Commission, small-cap companies, stocks, trading, U.S. community banks, U.S. companies
