Business
Litigation Release No. 21691
Litigation Release No. 21691.
About this update from Earthworks Entertainment Inc
[{"type":"text","content":"U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 21691 / October 7, 2010SEC v. Scott R. Sand and Ingen Technologies, Inc, Civil Action No. 1:10-cv-23602-PAS (U.S. District Court for the Southern District of Florida)SEC v. Jeffrey Galpern, Civil Action No. 1:10-cv-23603-JLK (U.S. District Court for the Southern District of Florida)SEC v. Jean R. Charbit and Tzemach David Netzer Korem, Civil Action No. 1:10-cv-23604-CMA (U.S. District Court for the Southern District of Florida)SEC v. Anthony Mellone, Alex Parsinia, Larry Wilcox, Macada Holding, Inc. f/k/a Tri-Star Holdings, Inc., Zcom Networks, Inc., and The UC HUB Group, Civil Action No. 1:10-cv-23609-JAL (U.S. District Court for the Southern District of Florida)SEC v. Bruce Palmer and AccessKey IP, Inc., Civil Action No. 1:10-cv-23601-DLG (U.S. District Court for the Southern District of Florida)SEC v. John \"Buckeye\" Epstein, Steven E. Humphries, Earthworks Entertainment, Inc., and The Fight Zone, Inc. a/k/a Gold Recycle Corp., Civil Action No. 1:10-cv-23606-AJ (U.S. District Court for the Southern District of Florida)The Securities and Exchange Commission today charged more than a dozen penny stock promoters and their companies with securities fraud for their roles in various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales.The SEC worked closely with the U.S. Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation as the separate schemes were uncovered through FBI undercover operations conducted in such a way that no investors suffered harm. The U.S. Attorney today announced criminal charges against some of the same individuals facing SEC civil charges.The defendants, who are all insiders or promoters of publicly traded microcap companies, sought to manipulate the volume and price of microcap stocks and to generate stock sales through the payment of illegal kickbacks. The defendants thought they were paying-off corrupt pension fund managers, stockbrokers, or promoters, but these individuals were in reality undercover FBI agents or cooperating sources. In related criminal prosecutions, the United States Attorney's Office for the Southern District of Florida today announced criminal charges against some of the same individuals the SEC sued.The defendants reside ...