Ex-Teva Head Accused Of Role In $27M Pump-And-Dump Scheme

By Matthew Guarnaccia and Cara Bayles (September 8, 2018, 2:12 AM EDT) -- A former chairman of Teva Pharmaceutical Industries Ltd. as well as a blockchain company's CEO and its biggest investor were sued by the U.S. Securities and Exchange Commission in New York federal court Friday on allegations they masterminded a $27 million pump-and-dump scheme.

The SEC accused 10 individuals and 10 associated corporate entities of taking part in pump-and-dump schemes spearheaded by Barry Honig, a businessman who was at one time Riot Blockchain's largest shareholder. The complaint claims the defendants, who also include former Teva chairman Phillip Frost and Riot Blockchain CEO John O'Rourke, manipulated stock prices in three microcap companies, raking...

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