Accused Pump-And-Dump Fraudster Can't Duck SEC Claims

By Pete Brush (March 3, 2017, 5:22 PM EST) -- A Manhattan federal judge on Thursday refused to grant summary judgment to a Maryland man accused by the U.S. Securities and Exchange Commission of a scheme to inflate the value of some $290 million in penny stocks, finding that a Florida case the commission brought earlier does not short-circuit its New York suit.

Anthony Thompson, a stock promoter who also faces criminal fraud charges in New York State court, cannot dispatch the SEC's November 2014 New York lawsuit on grounds of judicial exhaustion, according to U.S. District Judge Katherine B. Forrest.

"The SEC's allegations in this action differ markedly," Judge Forrest...

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