Friday, April 17, 2015

South Florida men are two of 10 charged for inter-state penny stock fraud

The Securities and Exchange Commission (SEC) has charged two South Florida men and eight others for a scheme involving the offering and sale of penny stock in undisclosed “blank check companies.” The charges allege that the co-conspirators reportedly told investors the companies were promising startups. A blank check company typically has no value other than its status as a registered entity. That makes them attractive targets for investors looking for reverse mergers with shell companies ready…

No comments:

Post a Comment