SEC Charges California Resident in Microcap Fraud Scheme Targeting Retail Investors

The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors. According to the SEC’s complaint filed today in U.S. District Court for the Eastern District of New York, Abujudeh worked with others from August 2019 to at least September 2020 to fraudulently sell several microcap companies’ stock to investors by making misleading statements during high pressure sales calls and/or email promotions. The SEC alleges that, as part of the scheme, Abujudeh and his associates convinced investors to invest in the stock of Odyssey Group International Inc. as well as other microcap companies including Scepter Holdings Inc. and CannaPharmaRx Inc.