Market manipulators monkey with the market price of the shares, pumping the price up through misinformation, then selling out once innocent purchasers snap up the apparently rising shares.
Why That ‘Sure Thing’ Isn’t
People who bought shares of East Delta Resources Corp. in 2004 and 2005 were happy. As the price of one share of East Delta rose from 25 cents per share to more than one dollar per share, they may have wondered just how many times their money would double. The trading volume data showed [...]
The U.S. Securities and Exchange Commission has filed charges against Paul M. Gozzo and his company, PMG Capital, LLC, alleging that they manipulated the market in several micro-cap stocks. Specifically:
The U.S. Securities and Exchange Commission (“SEC”) has charged George Georgiou of Ontario, Canada with reaping over $17 million by manipulating the market for four microcap stocks – Avicena Group, Inc., Neutron Enterprises, Inc., Hydrogen Hybrid Technologies, Inc., and Northern Ethanol, Inc. According to the SEC’s complaint, Georgiou had a controlling interest in each of the companies and [...]
The Securities and Exchange Commission (SEC) filed a civil injunctive action against Excellency Investment Realty Trust, Inc and its CEO, David D. Mladen in connection with an alleged market manipulation scheme.
The SEC has charged Bruce Grossman and Jonathan Curshen of New York with bribing stockbrokers to trade the stock of Industrial Biotechnology, Corp. (“IBOT”) to make it appear that there was broad interest in the stock. The SEC’s press release describes the case as follows:
SEC Tags Recidivist Fraudsters
The case against the Levines, who were enjoined from further securities law violations in 2007, highlights how unwise it is for investors to rely solely upon regulators like the SEC for protection from scam artists.