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SEC Presentation Handouts |
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| Table of Contents |
1. Various SEC Internet-Related Enforcement Actions
2. SEC Enforcement Actions: Certain Internet Pump-and-Dump Schemes
3. SEC Enforcement Actions: Certain Momentum Trading Sites
4. SEC Enforcement Actions: Certain Online Impersonation Matters
5. SEC Enforcement Actions: Certain Stock Recommendation Sites
6. "Internet Countries"
7. SEC Enforcement Actions: Certain Online Newsletter Sites
8. SEC Enforcement Actions: Certain Online "Pre-IPO" Frauds
9. SEC Enforcement Actions: Certain Online Pyramid Schemes
10. SEC Enforcement Actions: Certain Spam-Related Matters
11. SEC Enforcement Actions: Certain Online Phony Offerings
12. SEC Internet Sweep Materials
13. SEC Internet-Related Enforcement Actions: Some "Ancient History"
15. Enforcement Actions Generally (Including Statistics)
16. Intrusion-Related Pump and Dump Schemes
17. Outsider Trading
| Materials |
1. Various SEC Internet-Related Enforcement Actions
| Van Dinh (hacking, identity theft and securities fraud) | |
| Kin H. Lee (after hours trading/manipulation) | |
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John Freeman, James Cooper, Benton Erskine, Anthony Seminara, Norman Lehrman, Linda Karlsen, Timothy Siemers, Norman Grossman, Lawrence Schwartz, Michael Akva, Robert Fricker, Richard Zelman, Bradley Burke, Benjamin Cooper, Chad L. Conner, Deon Benson, Gordon K. Allen, Jr., Jon Geibel, and William H. Borders II (unlawful insider trading) |
| LR-17037 | Linville Group, LLC, et al. (phony mutual fund) |
| LR-16947 | Sean Edward St. Heart (cybersmear) |
| Tutornet.com Group, Inc. and Euburn R.A. Forde (false SEC filings) | |
| 34-43382 | Alex Moore Co., Inc., Livetrade.com, Inc., and Michael Weissman (unregistered broker-dealer) |
| Richard L. Davis, J.R. Hoff and Louis P. Sitaras (Unregistered Offerings on Ebay) |
2. SEC Enforcement Actions:
Certain Internet Pump-and-Dump Schemes
| SEC v. CyberKey Solutions Inc. and James Plant (false press releases issued concerning purported contract with the Department of Homeland Security) (parallel criminal arrest by Philadelphia U.S. Attorney's Office) |
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SEC v. Shawn Casius, Logic's Consulting, Inc., Steven R. Wright, International Solutions, Inc., Peter Jessop, Socius Holdings, Ltd., and SIGF SA (emergency asset freeze concerning concerted market manipulation of the stock of Cameron International)
Cameron International, Inc. Trading Suspension See also Order (Trading Suspension FAQ) |
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2003 Summary Judgment Decision
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Arash Aziz-Golshani, Hootan Melamed and Allen Derzakharian (NEI Webworld) |
| Refael Shaoulian, Samuel Shaoulian (Universal Standard Healthcare, Inc., Classica Group, Inc. and Firetector, Inc.) |
| Stephen C. Sayre, Independent Financial Reports, Inc. and Silver Screen Industries, Inc. (Econnect) |
| Jonathan Lebed (Manchester Equipment Company, Inc., Just Toys, Inc., Yes Entertainment, Inc., Fotoball USA, Inc., Man Sang Holdings, Inc., West Coast Entertainment, Inc., Havana Republic, Inc., Classica Group, Inc. and Firetector, Inc.) |
| Charles O. Huttoe, Huttoe & Associates, Inc., Word Corporation, National Trading Services, Inc., Karen Purvis, also known as Karen Purvis Huttoe, Tammy Jo Perkins, Josephine Brooks, SGA Goldstar Research Inc., Theodore R. Melcher, Jr., Shannon B. Terry, Systems of Excellence, Inc, Alpha Securities Ltd., and Dunbar Holdings Ltd., (Systems of Excellence) |
| LR-17265 |
Spectrum Brands Corp., Saverio (Sammy) Galasso III, David Hutter (a/k/a David Green), Charlie Dilluvio and Michael J. Burns (Anthrax exploitation) |
| LR-17104 | American Healthcare Providers, Inc., Arthur W. Wheeler, Lars M. Kram, Angel L. Lorie Jr., Luis F. Lorie, and Michael Anthony Lester (manipulation via, inter alia, message boards) |
| 34-45474 | David B. Gosse (PortalZone -- false press releases) |
3. SEC Enforcement Actions:
Certain Momentum Trading Sites
LR-16461 Douglas Colt; et al
Complaint
Related Press Release
LR-17052 Thomas Carter
LR-16679
LR-17704
4. SEC Enforcement Actions:
Certain Online Impersonation Matters
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Michael O'Grady, Peter Cahill, David E. Wittimore, et al (so called "vicemail" stock manipulation scheme; joint filing with District of Columbia U.S. Attorney's office)
Related matter: SEC v. Yafa and Pickens, et al |
| LR-18614 | Nikolai Safavi (Sina Corporation) |
| LR-17427 | Mark Sendo and Internet Money.com, Inc. (phony credentials) |
| James Sheret, Jr. and Glenn E. Conley; (see also "SEC Charges Two People With Internet Stock Manipulation Scheme...") (AOL) | |
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Ned C. Sneiderman (Viasource) |
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| Benjamin Snyder (Viragen) | |
| Mark S. Jakob (Emulex) | |
| Fred Moldofsky (Lucent) | |
| Leszkek Zbierajewski (Bid.com) | |
| Gary D. Hoke, Jr. (Pairgain) |
5. SEC Enforcement Actions:
Certain Stock Recommendation Sites
LR-16925 Yun Soo Oh Park a/k/a Tokyo Joe
LR-16399 and Tokyo Joe's Societe Anonyme Corp.
*Related Opinions:
SEC v. Agora, Inc. (January 2004)
Lowe, et al v. SEC (1985)
LR-16475 DynamicDaytrader.com LLC and David A. Rudnick
34-42737 Genesis Trading and Robert Garganese
6. "Internet Countries" and Other "Pure" §Five Violations"
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World Financial & Investment Co., Inc. and Victor M. Wilson ("Melchizedek") |
| LR-16110 |
Lazarus R. Long (a/k/a Howard Turney) ("New Utopia") |
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Robert F. Moore (The Kingdom of "Enenkio") |
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In the Matter of Ford Motor Credit Company (Unlawful marketing of $7.3 billion of online debt securities in so-called "corporate money market accounts") |
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Richard L. Davis, J.R. Hoff and Louis P. Sitaras (online auction site violations) |
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| 34-51087 | Courtside Products, Inc. Trading Suspension
See also
Order (Trading
Suspension FAQ) Commanche Properties, Inc. Trading Suspension See also Order (Trading Suspension FAQ) |
7. SEC Enforcement Actions:
Certain Online Newsletter Sites
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Agora, Inc., Pirate Investor, LLC and Frank Porter Stansberry |
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| LR-17311 | James E. Franklin, Dieter Raabe, Samuel Wolanyk, Vector Keel Ltd., Initial Public Offering Consultants, Inc., Net Income and Avalon Trust |
| LR-17053 | Jared Ray Leisek and Byron John Leisek |
| 34-44881 | Daniel J. Murphy d/b/a Financial Picks |
| Liberty Capital Group, Inc. and Jason A. Greig |
| In the Matter of Presstek, Inc., Respondent |
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*Related Matters: Regulation FD Actions Press Release (November 25th, 2002) Siebel Systems Litigation Release |
8. SEC Enforcement Actions:
Certain Online "Pre-IPO" Frauds
| LR-17171 | Nueworld.com Commerce, Inc., and Timothy C. Ringgenberg |
| LR-17207 | Steven Goldsborough and William Goldsborough, individually and doing business as The Liquibuyers Group |
| LR-16700 | 1stBuy.com, Inc., and Roger D. Pringle |
9. SEC Enforcement Actions:
Certain Online Pyramid Schemes
| LR-16665 | Le Club Privé S.A., Zdenek Kieslich, Ron Zvi Mendelson, Eugene G. Chusid, Le Baron Solidarity, S.A., Le Baron Insured Fund, Le Baron High Income Fund, Le Baron High Yield Fund, Defendants; and Rishon Bank (SC), Rishon Financial Services, S.A., Rishon Investment Corp, M&R Bank Corp., World Wide Trading Group of Companies, Inc., World US Financial Services, Inc., Boris G. Chusid, Citadel Bank & Trust Inc., Relief Defendants |
| SG Limited, d/b/a Stockgeneration, et al. |
| LR-17537 | Gold-Ventures Club and Alexander Khamidouline, d/b/a www.gold-ventures.net |
10. SEC Enforcement Actions:
33-8311 33-8310 33-8309 33-8306 |
Energy & Engine Technology Corporation and ProActive Computer Services, Inc. First Capital International, Inc., Alexander Genin and Edwin M. Koziol Research Capital, LLC, Carl L. Smith, III, Richard Craig Hall, IR Specialists, Inc. and Wayne H. Jenkins EquityAlert.com, Inc., Innotech Corporation, Bhupinder S. Mann, Harmel S. Rayat, T&G2, Inc. and Virilitec Industries, Inc. |
| Discover Capital Holdings Corp., et al | |
| Decision | In the Matter of John Christopher McCamey and Sierra Equity Partners, LP |
| Dean S. Thomassen | |
| K.C. Smith | |
| Frank J. Custable, Jr., et al | |
| C. Jones & Company, Carter Allen Jones, Timothy J. Miles, Gaylen P. Johnson and Jonathan Curshen | |
| Samuel Aaron Meltzer | |
| Rodona Garst | |
| LR-17721 | Paul A. Spray, Thomas E. Loyd, Marc Barhonovich, et al |
| LR-17503 | U.S. Funding Corporation, Capital Concept Marketing, Angelica-Gwinnett and Charles Fremer |
| Mark E. Rice d/b/a Primex Capital | |
| LR-17396 | David Allen Lester |
| LR-17442 | New World Web Vision.com, Inc., Capital Corp Investments International, Inc. and Dwight D. Dubose |
| LR-17350 | New Energy Corp., Tor Ewald, Geneva Financial Ltd., Marcelino Colt aka Marcelino Colt Vasquez, Magnum Financial, LLC, Michael S. Manahan, BLD Trust, Barclay Davis, Loretta Davis, Burke T. Maxfield, York Chandler, and Hector Campa Acedo |
| Steven Hourmouzis and Wayne Loughan v. No. 00-N-905 (USDC D.
Colo.) (Rentech)
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| LR-15959 | Francis Tribble and Sloane Fitzgerald |
11. SEC Enforcement Actions:
Certain Online Phony Offerings
| SEC v. Salvatore Favata (fraudulent Ponzi scheme of so-called "investment notes" purportedly based upon mortgages and deeds of trust for real estate investments; joint filing with Central District of California U.S. Attorney's office) |
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Blue Square, Westwood Holdings, Viktor Novosselov (AKA David Markovitz), Igor Malyar (AKA George Falcone) |
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Hubert A. Jeffreys, a/k/a Hugh Jeffreys, Earthboard Sports USA, Inc., Timothy F. Bell and Tracy A. Edwards |
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Z-Par Holdings, Inc., Z-Par Investment Fund II, Larry Michael Parrish, Michael Edward Zimmerman, defendants, and Eduard Akopian A/K/A Edward Akopian, and Capital Ban Corp., A California Corporation, relief defendants. |
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| 34-49657 |
William Lyons (purported "prime bank investments") |
| Invest Better 2001, Cole A. Bartiromo, and John/Jane Does 1-10 (phony offering/manipulation) | |
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Interactive Products and Services, Inc., and Matthew P. Bowin |
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| Make It Reel Productions, Inc., Cine Star, Inc., Joseph Rubbo, Angela Rubbo (Sr.), Angela Rubbo (Jr.), Pasquale Rubbo, Nicholas Rubbo, and Peter D. Ragofsky | |
| LR-17400 |
Harral Dunbar, Jr., Individually and d/b/a Ghost International (purported "high yield investments") |
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LR-18685
Related Case: SEC v. Lauer (1994) |
Clif Goldstein, formerly known as Clifford Dixon Noe, Paul Howe Noe, also known as Paul Noe Randall, Carolyn M. Kaplan, Noel Alelov, Russell B. Gerstein, Nuell W. Paschal, Great American Trust Company, Inc., and Great American Trust Corporation, Inc. (prime bank fraud) |
| LR-16690 | Houston Texans NFL Football Team Holding Co. and Edgar A. Guilbeau |
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SEC v. Roor, et al (99 Civ. 3372, 2004 U.S. Dist. LEXIS 17416 (S.D.N.Y. August 30, 2004) (Baer, J.) (SEC’s motion for summary judgment against two defendants granted in securities fraud case; finds defendants acted recklessly and draws adverse inference against them based on Fifth Amendment assertion; also holds that one defendant’s criminal conviction constitutes collateral estoppel; orders permanent injunctions, disgorgement, and prejudgment interest as to both defendants, and $100,000 civil penalty against one defendant). ) |
Peter Roor (Individually and D/B/A Oxford Savings Club, Ltd. and Manumit Unlimited), Ronald L. Templin (Individually and D/B/A American Leadership Network, Saratoga Holdings Llc, Secured Private Placements, The 650 Club,Internet Marketing Partners and Private Party Loan Program), and Laurie Elizabeth Weiss. |
12. SEC Internet Sweep Materials
Sweep I (Touting) (October 1998)
Sweep II (Touting) (February 1999)
Sweep III (Offerings) (May 1999)
Sweep IV (Free Stock) (July 1999)
Sweep V (Microcap) (July 1999)
Sweep VI (Manipulations) (September 2000)
Sweep VII (Potpourri) (February 2001)
13. SEC Internet-Related Enforcement Actions:
| LR-15899 | Sep. 24, 1998 | Securities and Exchange Commission v. Omnigene Development, Inc., f/k/a Omnigene Diagnostics, Inc., Dominic Scacci and Jerome M. Wenger, (Civil Action No. 98-8672-CIV-RYSKAMP (S.A., Fla) (West Palm Beach Div.) |
| Aug. 12, 1998 | Securities and Exchange Commission v. Internet Casino Sports Gaming, LLC, Internet Casino Sports Gaming, Inc., Robert Matias a/k/a Robert Duvall and Alan Lenchner a/ka/ Alan Lane, Civil Action No. 98-6467 MRP (RNBx) (C.D. Cal.) | |
| LR-15264 | Feb. 25, 1997 | Securities and Exchange Commission v. George Chelekis, KGC, Inc., and Hot Stocks Review, Inc., Civil Action No. 97CV-00374 (D.D.C.) (filed February 25, 1997) |
| LR-14942 | Jun. 11, 1996 | Securities and Exchange Commission v. Octagon Technology Group, Inc., Michael J. Tidd and Jeffrey L. Punzel, Civil Action No. 96-1299 (JR), (D.D.C. June 11, 1996) |
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Sept.19, 1996 Jul. 11, 1996 May 31, 1996 |
Securities and Exchange Commission v. Comparator Systems Corporation, Robert Reed Rogers, Scott Hitt and Gregory Armijo, Civil Action No. 96-3856 (LGB) (C.D. Ca.) | |
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Dec. 6, 1996 Feb. 26, 1996 |
Securities and Exchange Commission v. Pleasure Time, Inc. d/b/a Telephone Information Systems, et al. (S.D. Ohio, Civil Action No. C-1-95-178) | |
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Nov. 15, 1995 Oct. 29, 1996 Oct. 30, 1995 |
Securities and Exchange Commission v. Scott A. Frye, 95 Civ. 9205, U.S.D.C., S.D.N.Y. (JSM) |
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Keeping Watch: Five Great Management Lessons from Seven Great Watches June 2008 HR: Watches Magazine (Volume 11, Issue 3) |
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Using the SEC's Statutory Weaponry to Combat Spam (Spring 2006 University of Toledo Law Review, in commemoration of the ten year anniversary of the CyberSecurities Institute) (with Carolyn E. Kurr) Real World Juries: From Deliberation Room to Green Room, ABA Securities Litigation Journal, (Volume 15, Number 3, Summer 2005 ) (with David R. Fontaine) |
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Online Road Shows: Past, Present and Future, Journal of Internet Law, (Volume 8, Number 11, May 2005) (with William W. Hankins) |
| Prime Bank Frauds: Past, Present and Future: The Fatal Internet Migration of Dr. No (Securities Regulation Law Journal in Spring 2003) (with N. Blair Vietmeyer) |
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Successful Management For The New Millennium: 12 Great Lessons From 12 Great Cop Flicks (Presented at 2002 Economic Crime Summit of National White Collar Crime Center) (with Captain Matthew Klein) |
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Enforcenet Redux: A Retrospective of the SEC’s Internet Program Four Years After its Genesis (The Business Lawyer, November 2001) |
| Internet Fraud: Myths and Reality (NSCP Currents, December 2000) |
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The SEC’s Statutory Weaponry to Combat Internet Fraud (The Securities Reporter, Fall 1999) (with Stephen Cutler) |
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Securities Enforcement Tombstones: The Internet’s Impact upon SEC Rules of Engagement (Insights Magazine, February 1998) |
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SEC Enforcement and The Internet: Meeting the Challenge of the Next Millennium . . . A Program for the Eagle and The Internet (The Business Lawyer, May 1997 (with Joseph Cella) |
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Never, Ever Leave Your Wingman (September 1997, not yet published) |
15. SEC Internet-Related Enforcement Actions Generally
The SEC's Office of Internet Enforcement (2005)
16. Intrusion-Related Pump and Dump Schemes
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SEC v. Joshua M. Eudowe (Using employer's private password without his knowledge or consent, defendant, a registered representative at the time, purchased shares of two thinly-traded stocks in the client accounts of investment partnerships managed by his employer, causing their stock prices to spike; defendant then sold several thousand shares of these same stocks that he held in his personal account at the artificially inflated prices caused by his unauthorized trading.) |
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Press Release |
SEC v. One or More Unknown Traders in the Common Stock of Certain Issuers a/k/a AWE Trading, Inc. and Andrew Andersen, (SEC alleges that one or more unknown traders conducted their entire online account intrusion scheme over the Internet and concealed their identities by, among other things, fraudulently opening brokerage accounts in the names of individuals who responded to a job advertisement on the Web site Craig’s List.) |
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SEC v. Anatoly Russ (fraudulent intrusion scheme to control the prices at which he purchased and sold options on an Exchange Traded Fund (ETF) by placing unauthorized orders in online brokerage accounts designed to match orders in his own account.) |
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SEC v. Alexis Ampudia, a/k/a Alexis Geancarlos Ampudia Navalo, a/k/a Alexis Emias, a/k/a Alexis Rojas (fraudulent scheme to manipulate the prices of numerous stocks through the unauthorized use of other people’s online brokerage accounts; filed parallel with Manhattan District Attorney's Office) |
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SEC v. Jaisankar Marimuthu, Chockalingam Ramanathan and Thirugnanam Ramanathan (fraudulent scheme to manipulate the prices of numerous stocks through the unauthorized use of other people’s online brokerage accounts; filed parallel with Omaha U.S. Attorney's Office) |
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Supporting TRO |
SEC v. One or More Unknown Traders in the Common Stock of Certain Issuers and JSC Parex Bank (relief defendant) (Emergency asset freeze of $3 million of unlawful profits of fraudulent scheme to manipulate the prices of numerous stocks through the unauthorized use of other people’s online brokerage accounts) |
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SEC v. Kamardin (fraudulent scheme to manipulate the prices of numerous stocks through the unauthorized use of other people’s online brokerage accounts) |
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SEC v. Grand Logistic, S.A., et al., Civil Action No. 06-15274 (fraudulent scheme to manipulate the prices of numerous stocks through the unauthorized use of other people’s online brokerage accounts) |
| Van Dinh (hacking, identity theft and securities fraud) |
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Securities and Exchange Commission v. Lohmus Haavel & Viisemann, et al.(S.D.N.Y. 2005) |
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Decision Granting Motion to Dismiss (1/9/2008) |
Securities and Exchange Commission v. Dorozhko (S.D.N.Y. 2007) |
SEC v. Michael A. Stummer (Daytrader commits unlawful deception when he sneaks into brother-in-law's computer in brother-in-law's bedroom, reviews material, nonpublic information about possible tender offer by brother-in-law's private equity firm's client and trades on the basis of that information) |