Articles Posted in Penny Stock Fraud

Securities and Exchange Commission v. Colin McCabe (D/B/A Elite Stock Report, The Stock Profiteer, and Resource Stock Advisor), Civil Action No. 2:13-cv-00161 Recently, the Securities and Exchange Commission filed a civil action in the United States District Court for the District of Utah charging Canadian stock promoter Colin McCabe with disseminating false and misleading information…

Securities and Exchange Commission v. Falcon Ridge Development, Inc., et al., Civil Action No. 13-cv-1101 (E.D. Pa.) SEC CHARGES FALCON RIDGE DEVELOPMENT, INC. AND ITS PRESIDENT AND CEO FOR MARKET MANIPULATION SCHEME The Securities and Exchange Commission recently announced that it charged Falcon Ridge Development, Inc. (“Falcon Ridge”) and its President and CEO, Fred M.…

Securities and Exchange Commission v. Dynkowski, et al., Civil Action No. 1:09-361 (D. Del.) Defendant Adam S. Rosengard Settles SEC Charges in Penny Stock Manipulation Case The Securities and Exchange Commission recently announced that Chief Judge Gregory M. Sleet of the United States District Court for the District of Delaware entered a final judgment against…

United States District Court Enters Final Judgments in Penny Stock Distribution Scheme Charged by the Commission The Commission announced the entry of final judgments against each of the five defendants in SEC v. Christel S. Scucci, et al., Case No. 6:12-cv-646 (M.D. Fla.). The Commission’s complaint, filed on April 30, 2012, charged the defendants with…

Securities and Exchange Commission v. Spongetech Delivery Systems, Inc., RM Enterprises International, Inc., Steven Y. Moskowitz, Michael E. Metter, George Speranza, Joel Pensley and Jack Halperin, Civil Action No. 10-2031 (E.D.N.Y.) (filed May 5, 2010) SEC OBTAINS JUDGEMENTS AGAINST FORMER SPONGETECH EXECUTIVES MICHAEL E. METTER AND STEVEN Y. MOSKOWITZ The Securities and Exchange Commission recently…

SECURITIES AND EXCHANGE COMMISSION v. ERIC TODD SEIDEN AND KAMAL ABDALLAH, Civil Action No. CV 09-3116 (KAM) (EDNY) COURT ENTERS FINAL JUDGMENTS BY CONSENT AGAINST SEC DEFENDANTS ERIC TODD SEIDEN AND KAMAL ABDALLAH The Securities and Exchange Commission recently announced that on March 30, 2012, the Honorable Kiyo A. Matsumoto, United States District Court Judge…

Securities and Exchange Commission v. Danny Garber, Michael Manis, Kenneth Yellin, Jordan Feinstein, Aluma Holdings LLC, Azure Trading LLC, Coastal Group Holdings, Inc., Greyhawk Equities LLC, Leonidas Group Holdings LLC, The Leonidas Group LLC, Nismic Sales Corp., The OGP Group, Perlinda Enterprises LLC, Rio Sterling Holding LLC, Slow Train Holding LLC, and Spartan Group Holdings…

Securities and Exchange Commission v. Spencer Pharmaceutical Inc., Jean-François Amyot, Maximilien Arella, Ian Morrice, IAB Media Inc., and Hilbroy Advisory Inc., Civil Action No. 1:12-cv-12334 (D. Mass.) SEC Charges Company based in Massachusetts and Canada and Other Parties in Stock Pump-and-Dump Scheme Involving Fictitious Buyout Offer The Securities and Exchange Commission filed an enforcement action…

Freedom Investors Corp. – Brookfield, Wisconsin, Joel Reid Blumenschein – Pewaukee, Washington and Gary Lee Gossett – Spokane, Washington: The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event…

SEC v. Joseph P. Cillo: The Securities and Exchange Commission (“Commission”) recently announced that the Honorable James D. Whittemore, United States District Judge for the Middle District of Florida in Tampa has entered final judgment against defendant Joseph P. Cillo (“Cillo”) of Dade City, Florida. The judgment permanently enjoins Cillo from further violations of Section…