Articles Posted in Penny Stock Fraud

Securities and Exchange Commission v. Douglas Roe and Donald Lindo, Case No. 8:17-cv-01293-TDC (D.Md., filed May 11, 2017)

The Securities and Exchange Commission recently announced charges against two individuals involved in a fraudulent scheme to offer for sale a penny stock by filing false and misleading registration statements with the Commission.

According to the SEC’s complaint filed in U.S. District Court for the District of Maryland, Douglas Roe, a resident of Vancouver, British Columbia, teamed with Donald Lindo, a resident of Kingston, Jamaica, in an attempt to register for sale shares of Blue Mountain Eco Tours, Inc. The complaint alleges that Roe and Lindo engaged in a scheme to file the registration statements that they knew or were reckless in not knowing contained false statements.

Boca Raton Florida Penny Stock Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. Fortitude Group, Inc., et al., Civil Action No. 1:16-cv-00050-SPB (W.D. Pa. filed Feb. 29, 2016)

Securities and Exchange Commission v. Strategic Global Investments, Inc., et al., Civil Action No. 3:16-cv-00514-H-JLB (S.D. Ca. filed Feb. 29, 2016).

Guy Gentile – Boca Raton, Florida Penny Common Stock Fraud Litigation and Arbitration Attorney

Securities and Exchange Commission v. Guy Gentile, Civil Action No. 16-CV-1619 (JLL) (D.N.J.)

SEC Charges New York Man with Conducting Penny Stock Manipulation Schemes

Shane Whittle – Boca Raton, Florida Fraudulent Promotion and Micro-Cap Stock Litigation Attorney:

The Securities and Exchange Commission (SEC) recently announced fraud charges against several alleged perpetrators behind a $78 million pump-and-dump scheme involving the stock of Jammin’ Java, a company that operates as Marley Coffee and uses trademarks of late reggae artist Bob Marley to sell coffee products.

The SEC alleges that Jammin Java’s former CEO Shane Whittle orchestrated the scheme with three others who live abroad and operate entities offshore. Whittle utilized a reverse merger to secretly gain control of millions of Jammin Java shares, and he spread the stock to the offshore entities controlled by Wayne Weaver of the UK and Canada, Michael Sun of India, and René Berlinger of Switzerland. The shares were later dumped on the unsuspecting public after the stock price soared following fraudulent promotional campaigns.

Adam S. Gottbetter – South Florida Securities, Investment and Commercial Litigation Attorney

SEC Charges New York Lawyer and Two Promoters With Market Manipulation

The Securities and Exchange Commission recently announced fraud charges against a securities lawyer who used his New York law office as the headquarters for planning and implementing market manipulation schemes. Also charged were two stock promoters from Canada who assisted him.

South Florida, including Boca Raton, West Palm Beach and Royal Palm Beach Microcap Investment and Security Fraud and Misrepresentation Litigation Attorney

Securities and Exchange Commission v. David Carven et. a. Civil Action No. 15-cv-1820 (S.D.N.Y.)

SEC Files Emergency Action Against Father and Son Behind Pump and Dump Scheme, Obtains Asset Freeze

Fraudulent News Letters Used In Pump-and-Dump Schemes – Boca Raton, Florida Investment and Penny Stock Litigation Attorney

SEC Charges Three Penny Stock Promoters Behind Pump-and-Dump Schemes

The Securities and Exchange Commission recently charged three penny stock promoters with conducting pump-and-dump schemes involving stocks they were touting in their supposedly independent newsletters.

False and Misleading Press Releases and Marketing Material (Pump and Dump) – Boca Raton, Florida FINRA Arbitration and Litigation Attorney

SEC Charges Penny Stock Company Executives in New Jersey With Issuing False Press Releases to Inflate Stock Price

The Securities and Exchange Commission recently charged father-and-son executives at a New Jersey-based penny stock company for issuing false and misleading press releases while secretly selling thousands of their own stock shares into the market. They agreed to pay nearly $325,000 and accept officer-and-director bars to settle the SEC’s charges.

Patrick G. Rooney, John R. Rooney and Positron Corporation – Boca Raton, Florida Market Manipulation and Investment Fraud Litigation and Arbitration Attorney

SEC v. Patrick G. Rooney, John R. Rooney, and Positron Corporation, Civil Action No. 9:14-cv-81224-KAM (U.S. District Court for the Southern District of Florida)

The Securities and Exchange Commission announced that on September 30, 2014 it filed a civil injunctive action charging Positron Corporation, a microcap company based in Westmont, Ill., Patrick G. Rooney of Oak Brook, Ill., the company’s then-CEO, and John R. Rooney of Jupiter, Fla., a penny stock promoter, for orchestrating a market manipulation scheme involving the company’s stock.

Microcap and Penny Stock Market Manipulation and Fraud – Boca Raton, Fort Lauderdale and West Palm Beach, Florida State and Federal Court Litigation Attorney:

SEC Charges Eight for Roles in Widespread Pump-and-Dump Scheme Involving California-Based Microcap Company

The Securities and Exchange Commission recently charged a ring of eight individuals for their roles in an alleged pump-and-dump scheme involving a penny stock company based in California that has repeatedly changed its name and purported line of business over the past several years.

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