Action against Defendants, a transfer agent, a broker-dealer, and its principals, for alleged creation and sale of sham companies.  According to the SEC, Defendants broker-dealer and transfer agents manufactured numerous fake public companies which they then sold.  The SEC further alleges that two Defendant principals signed and submitted FINRA and DTC applications that contained false information, and the third Defendant principal failed to acquire sufficient knowledge about the companies and investigate areas of concern raised by FINRA.

SEC Complaint

SEC Litigation Release

SEC Press Release