Action against Defendants, an asset management firm, fintech company, and their two founders and CEOs, for alleged illegal sales of microcap stock and for aiding large shareholders in over 50 public companies to evade sales restrictions.  The SEC has additionally named two family members and an entity controlled by one Defendant CEO as relief defendants.  According to the SEC, Defendants helped large shareholders to conceal their identities and stock ownership, gain anonymous access to brokerage accounts to sell large amounts of shares, and disburse the proceeds of unlawful sales.  Parallel criminal charges have been announced against one of the Defendant founders.

SEC Litigation Release

SEC Press Release