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SEC Targets 3 Over $63M Microcap Fraud

Law360 (February 24, 2011, 8:34 PM EST) -- The U.S. Securities and Exchange Commission on Thursday charged three individuals and two investment firms over a $63 million portfolio pumping scheme involving multiple U.S. microcap stocks.

Todd M. Ficeto, Florian Homm, Colin Heatherington, Hunter World Markets Inc. and Hunter Advisors LLC cooked up a scheme to manipulate thinly-traded U.S. microcap stocks from September 2005 to September 2007, according to the SEC's complaint filed in the U.S. District Court for the Central District of California.

The SEC alleges that Homm — a resident of Spain whose...
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