This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The U.S. Securities and Exchange Commission has won a $2.58-million judgment against Pawel Dynkowski, a Polish man charged for pump-and-dumps run through the Investors Hub website. (All figures are in U.S. dollars.) The SEC claimed that Mr. Dynkowski was part of a "ring of serial penny stock manipulators" who operated partly through the site in 2006 and 2007. The regulator cited them for four manipulations, including that of an Ontario pink sheets listing called Playstar Corp.

The sanction against Mr. Dynkowski is contained in a judgment handed down on Sept. 9, 2015, in Delaware. The $2.58-million penalty includes disgorgement of $1.06-million in gains, plus interest, and a $1.06-million fine. The judgment also permanently bars Mr. Dynkowski from penny stocks. The decision is a ruling by default, as Mr. Dynkowski did not respond to the charges.

The case against Mr. Dynkowski stemmed from a two-year investigation into a ring of promoters who touted stocks partly using Investors Hub. According to the SEC, the men manipulated four pink sheets listings and dumped $6.2-million worth of stock. Those charged included former Investors Hub operator Matthew Brown.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS