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by Mike Caswell
Salt Lake City clearing firm Alpine Securities Corp. has responded with an emphatic denial to accusations that it facilitated market manipulations and other schemes. Alpine says that the U.S. Securities and Exchange Commission has unfairly targeted it as part of an effort to put the firm out of business. As Alpine sees things, the SEC is looking to make the "biggest media splash" it can by making an example of the firm.
The claims from Alpine come in response to a case that is linked at least loosely to Vancouver. The SEC claims that Alpine failed to report hundreds of suspicious transactions going back to 2012. Although the SEC did not name the stocks involved, an entity related to Alpine called Scottsdale Capital Advisors Corp. previously received a $1.5-million fine in connection with three companies, including a Vancouver listing called Voip Pal.com Inc. (All figures are in U.S. dollars.) According to the SEC, most of Alpine's business came from Scottsdale and both firms are owned by the same man, John Joseph Hurry.
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