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Selected Press Releases

SEC Charges Man With Microcap Fraud Involving Shares of Cynk Technology Corp.


The Securities and Exchange Commission today charged a Canadian citizen with conducting a scheme to conceal his control and ownership of a microcap company whose price quickly spiked last year. The SEC suspended trading in the stock, Cynk Technology Corp., before the alleged schemer, Phillip Thomas Kueber, could profit on the gains from the stock’s rise to more than $21 from less than 10 cents per share.Read more

SEC Charges Operators of Fraud Based in Upstate New York


The Securities and Exchange Commission today charged two men and eight companies with defrauding investors, many of them upstate New York residents, who purchased the companies’ securities and so-called “charitable gift annuities.” Read more

Former Oppenheimer Employees Settle Charges Involving Unregistered Sales of Penny Stocks


The Securities and Exchange Commission today announced that three former employees of Oppenheimer & Co. Inc. have agreed to settle charges stemming from the unregistered sales of billions of shares of penny stocks on behalf of a customer. The actions involve a portion of the conduct announced in January in a settled enforcement action against Oppenheimer in which the broker-dealer admitted wrongdoing and paid $20 million to the SEC and the Treasury Department’s Financial Crimes Enforcement Network. Read more

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


The Securities and Exchange Commission today charged a trio of alleged microcap stock scammers with defrauding investors by disseminating promotional e-mails exhorting readers to immediately buy purportedly hot stocks so they could secretly sell their own holdings at a substantial profit. Read more

SEC Pays More Than $3 Million to Whistleblower


The Securities and Exchange Commission today announced a whistleblower award of more than $3 million to a company insider whose information helped the SEC crack a complex fraud. The multi-million dollar payout is the third highest award to date under the SEC’s whistleblower program.Read more