SEC Wins Jury Trial Against Microcap Fraudsters

Jurors in Los Angeles federal court yesterday returned a verdict in the Securities and Exchange Commission’s favor against a microcap issuer, Curative Biosciences Inc., formerly known as Healthient Inc., and husband-and-wife insiders who made false and misleading statements to conceal their unregistered sales of company stock. William M. Alverson, the former chairman of the company’s board of directors, and Katherine West Alverson, the company’s former chief executive officer and a director, conducted an illicit scheme by which they directed the company to issue shares to third parties under the pretext that they were in payment for services rendered or in discharge of a debt.