SEC Hits Wall Street Capital Funding With Fraud Suit

Law360, New York (February 7, 2011, 8:07 PM EST) -- The U.S. Securities and Exchange Commission has accused Wall Street Capital Funding LLC and a number of its executives of deceiving investors by disseminating fradulent information about a series of nonexistent energy companies.

In one instance, Wall Street Capital Funding owners Philip Cardwell and Roy Campbell and their associate Aaron Hume distributed material touting an oil exploration company called PrimeGen Energy Corp. that turned out to be headquartered in a UPS mailbox, according to a complaint filed Monday in the U.S. District Court for the Southern...
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