By Katryna Perera (September 24, 2021, 6:49 PM EDT) — EDITING — The U.S. Securities and Exchange Commission filed two separate complaints in New York federal court on Thursday alleging that four individuals and five entities ran a fraudulent transatlantic microcap scheme that generated more than $10 million in unlawful stock sales.

The complaints were filed against three U.K. residents, one U.S. resident and five entities that are based around the world.

In one of the complaints, the SEC alleges that a father-son duo from the U.K. illegally disguised their control of publicly traded companies in the U.S. and through their control engineered a “pump-and-dump” scheme of their stocks.

Timothy Page…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Read more…