Action against Defendants, four individuals and their four companies, for alleged microcap fraud and unregistered offerings.  According to the SEC, Defendants used fake promissory notes to obtain unregistered shares of microcap issuers and sold the shares to the public.  The SEC further alleges that one Defendant company bought a fake promissory note from another Defendant company and, in a fraudulent settlement agreement approved by a state court, agreed to retire the debt in exchange for stock.

SEC Complaint

SEC Litigation Release

SEC Press Release