Action against Defendant, a business partner of the controlling shareholder of a public company, for his alleged role in an unregistered offering and pump-and-dump scheme. According to the SEC, Defendant and his partner falsified documents and misled the company’s transfer agent and a brokerage in order to obtain stock certificates without restrictive legends, which would have required the company to file a registration statement or be exempt from doing so. The SEC further alleges that Defendant and his partner publicly distributed positive information about the company to solicit investors and then sold their shares at an inflated price. Defendant has agreed to officer-and-director bars and to pay disgorgement, prejudgment interest, and a civil penalty in amounts to be determined by the court.

SEC Complaint 

SEC Litigation Release