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

Russell L. Forkey

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

On March 23, 2016, the Securities and Exchange Commission charged Guy Gentile, a resident of Putnam Valley, New York, with perpetrating penny stock manipulation schemes.

The SEC alleges that Gentile, who at the relevant time owned and operated a registered broker-dealer based in Carmel, New York, engaged in manipulative trading, provided illegal kick-backs, and distributed promotional mailings of glossy “newsletters” with fake publication names like “Stock Trend Report” and “Global Investor Watch,” in order to tout the stocks of purported gold and silver exploration company Raven Gold Corporation (RVNG) and natural gas production company Kentucky USA Energy (KYUS). The newsletters misled investors with purportedly positive – but fake – price and volume trends for these stocks and other false information about the promoters’ identity, compensation, and control of the stock. In reality, most of the touted market activity was generated by Gentile and his associates who controlled large blocks of the companies’ stocks. Last year, the SEC charged attorney Adam Gottbetter for his role in the KYUS scheme, as well as Canadian stock promoters Mike Taxon and Itamar Cohen for their roles in the RVNG and KYUS schemes.

The SEC’s complaint filed in federal court in New Jersey alleges that Gentile violated Sections 5(a), 5(c), 17(a) and 17(b) of the Securities Act of 1933, and violated and aided and abetted violations of Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5. The SEC seeks disgorgement of ill-gotten gains, civil money penalties, injunctions against future violations, and a bar against participation in penny stock offerings.

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With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

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