| To: StockDung who wrote (1497) | 2/19/2016 10:23:47 AM | | From: StockDung | | | | Tobin Smith Claims About IWEB: "In short: I cannot say it LOUD enough or STRONG ENOUGH: you SHOULD be buying shares of IceWeb (IWEB) NOW Under The .25-.30 per share valuation!" - "NOW that you understand just a little about what's happening in the world of Cloud Storage and Big Data Analytics...and the impact on data storage from the petabytes of data they create...you understand ALL you need to know to make a damn FORTUNE from this under 25 cents stock/ tiny $20 million market cap company." [emphasis in original]
- "As a micro cap publicly traded company they have ZERO coverage by IT analysts on Wall Street--that is the story for most EVERY IT stock under $500 million market cap. But it's exactly this LACK of visibility that allow you and I to purchase shares NOW at a ground floor valuation JUST as their fundamentals are about to EXPLODE."
- "Look...I've been a tech nerd and research analyst for 20 years...and only a very FEW times have I found a company in the EXACT right place at the EXACT right time and the EXACT right value for me to make a 10X profit IN MY SLEEP over the next 9-12 months...MORE if they hold out for the next 18-24 months and wait for the REALLY ENORMOUS payday."
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FINRA Bars Broker For Market Manipulation - Supervisor Barred From Supervising, Suspended And Fined - Additional Broker Sanctioned Date 19/02/2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has barred broker George Johnson from the securities industry for engaging in a manipulative trading scheme to artificially inflate the market price and trading volume for the common stock of IceWEB, Inc. (OTCBB: IWEB). FINRA also sanctioned Christopher Wynne, Johnson's supervisor, suspending him for two years in all capacities, barring him in a principal capacity, and fining him $25,000. Joseph Mahalick, another broker who worked with Johnson and Wynne, was suspended for six months and fined $20,000 for falsifying firm records and has been barred from the securities industry in a separate action. Johnson, Wynne and Mahalick all worked for Meyers Associates L.P. in that firm's Chicago branch office during the time period of the misconduct.
FINRA found that over an eight-day period, Johnson manipulated the market for IWEB by recommending that certain of his customers buy at increasingly higher and artificially inflated prices while also recommending his other customers sell their shares, frequently matching trades between the customers. FINRA found that among Johnson's motives for manipulating the stock was the fact that he wanted to obtain business from the issuer for which he would anticipate receiving compensation in connection with a future private offering. Johnson coordinated a campaign with a stock promoter to attempt to increase the stock's share price to a level that would allow for the exercise of certain warrants.
Brad Bennett, FINRA's Executive Vice President and Chief of Enforcement, said, "Any broker engaging in manipulative activity poses a threat to market integrity and has no place in the securities industry. The branch office manager, who was the first line of defense in supervising George Johnson's activities, completely failed to supervise his transactions to ensure compliance with securities laws and FINRA rules."
FINRA also found that Johnson and Wynne sent customers IWEB sales materials that omitted information concerning material conflicts of interest and material risks concerning IWEB's business, and contained misleading, exaggerated and unwarranted information. Moreover, Johnson disclosed confidential information to potential purchasers concerning another offering.
In addition to the IWEB scheme, FINRA found that Johnson committed fraud by recommending that certain of his customers purchase shares of another penny stock without disclosing to them that he was liquidating his own personal positions of the security from his own brokerage accounts.
In addition, FINRA's investigation found that to cover up Johnson's violations of state securities registration requirements, Johnson, Mahalick and Wynne agreed to the practice of entering false information on more than 100 order memoranda, indicating that Wynne or Mahalick was responsible for the account or transactions, instead of Johnson.
In settling this matter, Johnson, Wynne and Mahalick neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
Investors can obtain more information about, and the disciplinary record of, any FINRA-registered broker or brokerage firm by using FINRA's BrokerCheck. FINRA makes BrokerCheck available at no charge. In 2015, members of the public used this service to conduct 71 million reviews of broker or firm records. Investors can access BrokerCheck at www.finra.org/brokercheck or by calling (800) 289-9999. Investors may find copies of this disciplinary action as well as other disciplinary documents in FINRA's Disciplinary Actions Online database. Investors can also call FINRA's Securities Helpline for Seniors at (844) 57-HELPS for assistance or to raise concerns about issues they have with their brokerage accounts and investments.
FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, and informing and educating the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers the largest dispute resolution forum for investors and firms. For more information, please visit www.finra.org.
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| To: scion who wrote (1578) | 2/19/2016 11:16:53 AM | | From: StockDung | | | | | How do the Tobin Smith and Charles Payne of the world get away with their crimes that cost investors millions of dollars in their pump and dump schemes? |
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| From: StockDung | 6/22/2016 6:01:03 PM | | | | | | SEC target Dany asks judge to dismiss Norstra case
2016-06-21 10:44 ET - Street Wire
Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-NORX) Norstra Energy Inc
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
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by Mike Caswell
Newsletter writer Eric Dany, charged for touting B.C.-linked oil explorer Norstra Energy Inc. with a misleading 8.5-billion-barrel oil figure, has asked that the judge throw the case out. He claims that he had little to do with a scheme that saw the stock go to $2.06 from 35 cents. (All figures are in U.S. dollars.) The only thing he did was accept $20,000 so that others could use his likeness in promotional materials, he says.
The U.S. Securities and Exchange Commission claims that Mr. Dany participated in a spam campaign that boosted Norstra in 2013. He arranged for materials that made "wildly optimistic" projections about the company, the SEC says. Among other things, he repeated and inflated misleading oil reserve figures, according to the regulator.
Mr. Dany, however, portrays his role in the scheme as minimal. In a motion filed in New York on Friday, June 17, he says that he was only a small part of a multimillion-dollar "investor awareness campaign." People other than him planned the campaign and distributed the related materials. The only thing that Mr. Dany did was act as an endorser, receiving $20,000 so that his likeness could be used in the campaign, his motion states.
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| From: StockDung | 7/15/2016 2:16:25 PM | | | | | | SEC says Norstra tout Dany far from fringes of scheme
2016-07-14 10:45 ET - Street Wire
Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-NORX) Norstra Energy Inc
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
Newsletter writer Eric Dany was far more than a fringe participant in a scheme to boost B.C.-linked oil explorer Norstra Energy Inc., the U.S. Securities and Exchange Commission says. His picture and signature appeared in spam that went out as the stock went to $2.06 from 35 cents. (All figures are in U.S. dollars.) He also encouraged readers of that material to accept a trial subscription to his newsletter, Eric Dany's Stock Prospector, the SEC contends.
The statements from the SEC come as part of a case in which it claims that Mr. Dany participated in a 2013 campaign to boost Norstra. He arranged for materials that made "wildly optimistic" projections about the company, the SEC says. Among other things, he repeated and inflated misleading oil reserve figures, according to the regulator.
Mr. Dany has been trying to have the judge drop the charges, claiming that he had little to do with the scheme. In a June 17, 2016, motion he said that his role amounted to accepting $20,000 so that others could use his likeness in promotional materials. As he saw it, he was a very small part of a multimillion-dollar investor awareness campaign.
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| From: StockDung | 9/7/2016 12:18:47 PM | | | | | | SEC Charges CEO and Paid Promoter With Fraudulently Promoting Stock of Las Vegas Health Products Company
FOR IMMEDIATE RELEASE
2016-178
SEC complaint
sec.gov
Washington D.C., Sept. 6, 2016 — The Securities and Exchange Commission today charged the CEO of a sexual health products retailer and a paid promoter with orchestrating fraudulent promotional campaigns to tout the company’s stock.
The SEC alleges that Scott S. Fraser, who also was a major shareholder in Las Vegas-based Empowered Products Inc., separately ran a newsletter publishing business and hired Nathan Yeung to secretly help him promote Empowered Products through online newsletter articles purportedly authored by independent writers. But Fraser and Yeung actually authored, authorized, and distributed the rosy articles about Empowered Products themselves, working under such pseudonyms as “Charlie Buck” and then hiring other promoters to disseminate the promotions to their respective subscriber lists in exchange for fees. Meanwhile the promotions failed to disclose that Empowered Products and Fraser approved and paid for the advertisements.
“When promoters fail to disclose their relationship with a company they’re touting, they give investors a false impression that an investment recommendation is objective,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office. “We allege that Fraser and Yeung deliberately touted Empowered Products without disclosing the company’s involvement with the promotions.”
The SEC’s complaint charges Fraser, his newsletter company Contrarian Press, and Yeung with violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 as well as Section 17(b) of the Securities Act of 1933. The complaint further charges Fraser with aiding and abetting violations by Contrarian Press, and seeks to hold him liable as a control person of the company. The complaint also charges Yeung with aiding and abetting violations by Fraser and Contrarian Press.
The SEC’s investigation was conducted by Tejal Shah, Alexander Janghorbani, Douglas Smith, and Sandeep Satwalekar of the New York office and Joseph Darragh of the Microcap Fraud Task Force. The case is being supervised by Lara Shalov Mehraban. The litigation will be led by Mr. Janghorbani and Ms. Shah.
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