Growth Capitalist (https://growthcapitalist.com/author/tbuhl/page/18/)
Federal authorities have charged a long-time microcap stock manipulator and over a half a dozen of his cohorts with scheming to cloak ownership of shares used in a series of offshore pump and dump campaigns emanating from Central America.
The Financial Industry Regulatory Authority has sued Scottsdale Capital Advisors, an Arizona-based broker-dealer, for the alleged sale of 74 million shares of unregistered securities of three U.S. microcap companies from December 2013, through June 2014. The regulator brought the enforcement action against Scottsdale on May 17 after many months of legal sparring with Scottsdale principal John Hurry.
A penny stock scam case highlighted by the SEC’s enforcement chief Andrew Ceresney against foreign broker-dealers is now falling apart after a U.S. federal judge intervened and scolded the agency for its negligence in requesting an asset freeze.
Alternative trading markets operator OTC Markets Group has finalized new rules enabling issuers to list their Regulation A+ securities on two of its marketplace tiers. OTC Markets is vying to be the market leader in trading Reg A+ offerings in the secondary market by moving early to accept these capital raising deals for emerging growth companies.
