Action against Defendants, several corporate entities and their Chairman and CEO, in connection with an alleged fraudulent securities offering.  According to the SEC, Defendants sold stock in entities purportedly engaged in online gaming by falsely claiming that the companies were on the verge of a lucrative IPO and would soon be listed on major U.S. stock exchanges.  The SEC alleges that the entities did not have a plan or the capability to conduct an IPO and had not filed applications to be listed on the exchanges. The SEC further alleges that Defendant CEO used investor money for pay personal expenses.

SEC Litigation Release