Tag: Ponzi scheme
SEC Charges 8 in Cross-Border Penny Stock Fraud Scheme
Securities and Exchange Commission v. Ronald Bauer et al. Case No. 1:22-cv-03089 (S.D.N.Y. filed April 14, 2022) SEC announced charges against eight individuals for participating in a long-running fraudulent scheme that generated over $145 million from unlawful sales of penny stocks and caused significant harm to retail investors in the United States and around the world. Defendants. UK-resident Ronald Bauer…
Court Orders Five Defendants in International Ponzi Scheme to Pay Over $13.1 Million
Litigation Release No. 25369 / April 15, 2022 Securities and Exchange Commission v. Damon Elliott, et al., Civil Action No. 1:20-cv-10860 (District of Massachusetts, Filed May 6, 2020) Final judgments against defendant Damon Elliott, United Kingdom citizen and French resident Civil action charged that Elliott engaged in a Ponzi scheme and misappropriated money from investors, as well as against multiple relief…