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SEC Takes Spanish Stock Promoter To Court

Law360 (August 18, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has filed suit against a Spanish stock promoter, accusing the company and others of carrying out a widespread scheme to illegally sell millions of shares of a small Washington technology company.

On Friday, the SEC sued Francisco Abellan, Gene Hew-Len, Vega Star Capital and others in the U.S. District Court for the Western District of Washington, accusing the group of failing to register the public offering for GHL Technologies Inc. and raking in millions of dollars.

“The defendants in this...
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