Pump-And-Dump

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Feb 2, 2017

SEC: Meyers Associates, L.P. Ignored Pump-And-Dump Scheme

By |February 2nd, 2017|Fraud, Legal Matters, Misrepresentation and Fraud, Press Releases & News, Pump-And-Dump, SEC, Securities Law Violations|

The SEC announced administrative proceedings against John D. Telfer, who worked for Meyers Associates, L.P. as the firm's former anti-money laundering officer. The commission alleges that the firm failed to file Suspicious Activity Reports for $24.8 million worth of suspect transactions, which includes transactions in accounts controlled by Raymond H. Barton and William G. Goode [...]

Jan 24, 2017

FINRA January 2017 Disciplinary Actions

By |January 24th, 2017|Alabama, Bonds, Broker Check, Churning, Conflict of Interest, Conspiracy, Failure To Supervise, Fiduciary Duties, FINRA, FINRA News, Fraud, Georgia, Hedge, Bond & Mutual Funds, Legal Matters, Master Limited Partnership, Misappropriated Funds, Misrepresentation and Fraud, Non Traded Real Estate Investment Trust, Ponzi Scheme, Press Releases & News, Private Placements, Pump-And-Dump, REIT, SEC, Securities Law Violations, Selling Away, Suitability, Variable Annuity|

FINRA takes disciplinary actions against firms and individuals for violations of FINRA rules; federal securities laws, rules, and regulations; and the rules of the Municipal Securities Rulemaking Board. Below are a number of penalties announced by the regulator in January 2017. If you have been a victim of any of the below behavior, you may [...]

May 19, 2016

Promoter Pleads Guilty To Pump-And-Dump Scheme

By |May 19th, 2016|Fraud, Misrepresentation and Fraud, Press Releases & News, Pump-And-Dump, Securities Law Violations|

Greg Mulholland, a penny-stock promoter, pleaded guilty to conspiring to manipulate stocks and laundering over $250 million in profits. Prosecutors are calling it one of the biggest pump-and-dump schemes of all time. A pump-and-dump scheme is the fraudulent practice of encouraging investors to buy shares in a company in order to inflate the price [...]

Apr 20, 2016

Broker Accused Of Pump-And-Dump Scheme

By |April 20th, 2016|Conspiracy, Fraud, Misrepresentation and Fraud, Press Releases & News, Pump-And-Dump, SEC, Securities Law Violations|

Guy Gentile of Putnam Valley, New York allegedly ran a $17 million pump-and-dump stock scheme. Gentile faces federal counts of securities fraud and conspiracy to commit securities fraud. He was indicted late last month, according to U.S. Attorney Paul J. Fishman. The SEC filed a civil suit against Gentile late last month, as well. Gentile's [...]

Mar 24, 2016

BD Owner Indicted In Pump-And-Dump Scheme

By |March 24th, 2016|Fraud, Misrepresentation and Fraud, Press Releases & News, Pump-And-Dump, Securities Law Violations|

Guy Gentile, the owner of a New York broker-dealer, has been charged with fraudulently inflating the price of two micro-cap stocks before selling them to investors, creating $17.2 million in gross trading proceeds. Gentile was indicted in federal court in Newark, New Jersey, where a pair of stock promoters from Canada pleaded guilty last year [...]

Sep 3, 2015

FINRA Warns Investors About Messaging Apps

By |September 3rd, 2015|FINRA, FINRA News, Press Releases & News, Pump-And-Dump|

FINRA issued an investor alert yesterday, titled Messaging Apps Are Latest Platform for Delivering Pump-and-Dump Schemes. In the alert, FINRA cautions investors against stock promotions sent through increasingly popular messaging apps, including WhatsApp. Lately, users of WhatsApp were inundated with test messages promoting the stock of Avra, Inc. These text messages seemed to be sent from [...]

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