Socius Settles Fraud Suit With SEC For $1.5M

Law360, New York (August 7, 2008, 12:00 AM EDT) -- Shell company Socius Holdings Ltd. settled a suit with the U.S. Securities and Exchange Commission Wednesday, agreeing to fork over $1.5 million for its role in an allegedly fraudulent stock manipulation scheme.

Judge Paul A. Crotty of the U.S. District Court for the Southern District of New York issued a final judgment against Socius, an entity incorporated in the British Virgin Islands and operating out of Geneva, for participating in a scheme to drive up the stock of Cameron International Inc., a purported marketing firm....
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