SEC Sues East Delta, Execs Over Market Manipulation

Law360, New York (January 27, 2010, 2:15 PM EST) -- The U.S. Securities and Exchange Commission has slapped East Delta Resources Corp. with a lawsuit accusing the company's executives of a $1.4 million scheme to manipulate the market for East Delta shares.

The agency filed suit Tuesday in the U.S. District Court for the Eastern District of New York, alleging East Delta CEO Victor Sun perpetrated a scheme to pump up the volume of market activity for East Delta stock with company consultants David and Mayer Amsel.

From 2004 through at least 2006, the defendants boosted...
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