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Securities and Exchange Commission v. Sharp et al

  1. September 27, 2023

    Jury Rules For SEC In $144M Penny Stock Fraud Case

    A Boston federal jury on Wednesday found two British Columbia residents violated securities laws by participating in a $144 million penny stock scheme that allegedly featured shell companies, encrypted messages and James Bond-like code names.

  2. September 26, 2023

    Don't Believe SEC Witnesses In $144M Fraud Case, Jury Told

    The trial of two Canadian nationals accused by the U.S. Securities and Exchange Commission of participating in a $144 million penny-stock fraud scheme closed Tuesday, with defense attorneys attacking the government's cooperating witnesses as convicted felons willing to stretch the truth for a lighter sentence.

  3. September 20, 2023

    SEC Can't Nab Partial Win In Penny Stock Fraud Suit

    The U.S. Securities and Exchange Commission was denied partial summary judgment Tuesday on claims against a pair of Canadian investors over alleged penny stock fraud, with a Boston federal judge saying evidence in support of the motion was insufficient.

  4. September 12, 2023

    2 Accused Of Fraud Tell Jury Stock Enterprise Seemed Legit

    Two Canadian nationals facing securities fraud claims over an alleged multimillion-dollar pump-and-dump scheme told a Boston federal jury Tuesday that their contributions to the stock sale operation were above board, but put to ill use by the mastermind and others involved.

  5. September 11, 2023

    Secret Phones, Code Names Behind Stock Scheme, Jury Told

    Players in a multimillion-dollar pump-and-dump fraud scheme communicated with James Bond-esque code names on encrypted messaging platforms with secret "xPhones" to duck U.S. securities laws and unload shares of thinly traded penny stocks on unwitting investors, Boston jurors heard Monday at the start of a civil enforcement trial.

  6. February 15, 2023

    SEC Inks $6.2M Deals In Sprawling Penny Stock Fraud Case

    The U.S. Securities and Exchange Commission has asked a federal judge in Boston to approve consent judgments that would see a pair of defendants pay roughly $6.2 million combined to settle claims over their alleged role in "a sophisticated, multiyear, multinational" penny stock pump-and-dump scheme targeting companies, including a cannabis venture.

  7. December 09, 2021

    SEC Fights Alleged Penny Stock Fraudster's Dismissal Bid

    The U.S. Securities and Exchange Commission urged a Massachusetts federal judge on Thursday to deny a dismissal motion from a Canadian man accused of being involved in an alleged multimillion-dollar scheme to dump penny stocks on retail investors.

  8. December 01, 2021

    Judge Told SEC's Penny Stock Fraud Suit Is Time-Barred

    A Canadian woman accused of being involved in an alleged multimillion-dollar scheme to dump penny stocks on retail investors urged a Massachusetts federal judge Tuesday to dismiss a U.S. Securities and Exchange Commission suit against her, arguing the agency's claims are time-barred.

  9. November 17, 2021

    SEC Faces Challenge To Extended Disgorgement Shot Clock

    The U.S. Securities and Exchange Commission's recently expanded disgorgement power is being challenged by a defendant in a microcap fraud case who says the agency is improperly trying to seek disgorgement on claims that became time-barred years ago.

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