Growth Capitalist (https://growthcapitalist.com/tag/enforcement/page/2/)
Veteran microcap deal lawyer Gregg Jaclin was indicted May 18 on eight counts of criminal charges related to securities fraud and obstruction of justice, according to federal court records filed in Northern California by the Department of Justice.
The Securities and Exchange Commission’s enforcement division delivered subpoenas last week to companies who have fallen victim to an alleged advance-fee scheme tied to Regulation A offerings. The scheme, which was first reported by Growth Capitalist in March, is believed to be led by a Southern California man, Steven J. Muehler, who was permanently banned by the SEC last year.
The Securities and Exchange Commission is cracking down on investor relations firms that promote investment in emerging growth companies without disclosing that they are getting paid to tout their stock. On Monday April 10 the regulator announced a sweep of enforcement cases against executives at IR firms and the writers they hired to write bullish articles on penny stock companies masked as unbiased analyses which were posted on online investment websites including Seeking Alpha, The Street, Motley Fool and Benzinga.
Growth Capitalist interviewed four founders of startups that have filed Reg A offerings this year through AltaVista Capital Markets, a year-old Los Angeles-based firm founded by a securities promoter recently banned from the industry that has been involved in a flurry of recent filings by companies seeking to raise capital via Reg A.
