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.
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