Penny Stock Pushers Settle SEC Fraud Claims

Law360, New York (October 4, 2011, 3:18 PM EDT) -- Two stock promoters agreed Monday to be barred from penny stock trading and to pay civil penalties in Florida federal court after they were nabbed in June as part of a broader criminal and civil investigation into fraud and kickbacks in microcap trading.

Charles Fuentes and Brian Gibson agreed to permanent injunctions in order to end separate civil lawsuits by the U.S. Securities and Exchange Commission, which will make a recommendation to the court about how much the men should pay in penalties, according to consent...
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