Securities Dealer Agrees To Asset Freeze In Scalping Suit
By Sarah Jarvis (September 8, 2021, 5:38 PM EDT) -- A securities dealer and its owners have told a New York federal judge that they've agreed to a preliminary injunction and asset freeze, following claims from the U.S. Securities and Exchange Commission that they engaged in a penny stock scalping scheme that reaped $11 million in illegal profits.
GPL Ventures LLC, GPL Management LLC and its co-owners Alexander Dillon and Cosmin Panait have consented to the entry of the preliminary injunction without admitting or denying the SEC's allegations, per Tuesday's filing. The agency purported in its August complaint that they broke securities laws by purchasing and then publicly selling blocks of...
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