Actions against Defendants, 15 individuals, for alleged offering fraud and acting as unregistered brokers, or aiding-and-abetting these activities. According to the SEC, a management consulting company hired Defendants to cold-call retail investors and solicit investments in the company’s stock. The SEC alleges that Defendants were not registered as brokers and failed to disclose to investors that they were earning high sales commissions. The SEC further alleges that the offering itself was not registered. Eleven Defendants have agreed to injunctions, penny-stock bars, and to pay disgorgement and civil penalties of unspecified amounts.

SEC Complaint (Saccomanno and Swerdlen)

SEC Complaint (Duncan)

SEC Complaint (Duke et al.)

SEC Complaint (Bevil et al.) 

SEC Litigation Release