Tag: pump and dump schemes
-
BULLETIN: SEC Suspends Trading In 379 Penny Stocks; Initiative Dubbed ‘Operation Shell-Expel’ Leads To Unprecedented Number Of Shutdowns
BULLETIN: In an unprecedented move, the SEC today announced that it had suspended trading in 379 penny stocks, saying the companies were delinquent in filings and ripe for hijacking and scams involving reverse mergers and pump-and-dump schemes. “The trading suspension marks the most companies ever suspended in a single day by the agency as it…
-
BULLETIN: FLORIDA — AGAIN: SEC Says Penny-Stock Scammer With Complicit Attorneys Hatched Scheme To Take Advantage Of Devastating January 2010 Earthquake In Haiti
BULLETIN: Miami penny-stock scammer Kevin Sepe — along with two attorneys in Florida and one in Utah — engaged in illegal stock-selling schemes, the SEC said. One of the schemes “sought to capitalize on circumstances in Haiti following the earthquake that destroyed much of the country’s infrastructure in January 2010,” the SEC said. Sepe, 51,…
-
BULLETIN: NOTRE DAME HEARTBREAKER: Legendary Fighting Irish Football Walk-On Daniel ‘Rudy’ Ruettiger Charged With 12 Others In Alleged $11 Million ‘Pump And Dump’ Penny-Stock Swindle
BULLETIN: The SEC has charged Daniel “Rudy” Ruettiger and 12 others — including a disbarred attorney — in an alleged penny-stock swindle that gathered $11 million. The civil case is filed in U.S. District Court in Nevada. Ruettiger, 63, of Las Vegas, was the inspiration behind the movie “Rudy,” which depicted his drive to make…
-
CLOAK-BUSTING RULING IN SCAM LAND: Court Records Show SEC Served Subpoena On Google Aimed At Unmasking Identity Of Possible Touter In ‘Pump And Dump’ Probe Into Price Of Jammin Java Corp. Stock; ‘John Doe’ Moved To Quash, But Judge Says No
A judge yesterday upheld the SEC’s ability to investigate potential fraud schemes by issuing administrative subpoenas to vendors whose services potentially are being used to help scammers cloak themselves while they harvest illegal profits. The ruling is apt to cause great unease in the corners of the Internet occupied by murky HYIP, autosurf and pump-and-dump…
-
INCREDIBLE: Now, A ‘Nuclear Power’ Fraud Scheme; SEC Suspends Trading Of Alternate Energy Holdings Inc. (AEHI) Stock And Seeks Emergency Asset Freeze
The SEC has suspended trading of Alternate Energy Holdings Inc. (AEHI) stock and gone to federal court in Idaho to seek an emergency asset freeze, the agency said. AEHI was manipulating its stock price with a blitz of press releases while CEO Donald L. Gillispie and Senior Vice President Jennifer Ransom were reaping secret profits,…
-
INCREDIBLE: Florida — Again: SEC Files Complaint Against Purported ‘Gold’ Mining Operation In Miami Known As Quri Resources And Its CEO, Jaime Santiago Gomez
BULLETIN: The SEC has gone to federal court in Florida to accuse Quri Resources Inc. and its Chief Executive Officer Jaime Santiago Gomez of operating a pump-and-dump scheme to drive up the price of Quri’s unregistered stock. It was the second major action in Florida today against companies and individuals who allegedly were running stock-fraud…