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SEC Charges Microcap Fraud Scheme Participants Attempting to Capitalize on the COVID-19 Pandemic

The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against five individuals and six offshore entities…

Archivo · 2020-06-11

Extracto histórico para investigación. Las cifras, normas y situaciones de los casos pueden haber cambiado desde la publicación original.

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The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against five individuals and six offshore entities for an alleged fraudulent scheme that generated more than $25 million from illegal sales of multiple microcap companies’ stock, including four that were the subject of recent SEC trading suspension orders: Sandy Steele Unlimited Inc., WOD Retail Solutions Inc., Bioscience Neutraceuticals, Inc., and Rivex Technology Corp. The SEC’s complaint alleges that from at least January 2018 to the present, Canadian citizen Nelson Gomes, working with Canadian Michael Luckhoo-Bouche and others, enabled corporate control persons that were unknown to the public to conceal their identities while dumping their company’s stock into the market for purchase by unsuspecting investors.

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