SEC seeks $3.7-million (U.S.) from Ryan, McKeown
2011-01-11 13:46 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
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by Mike Caswell
The U.S. Securities and Exchange Commission has filed a motion seeking a $3.7-million default judgment against Dan Ryan and Carol McKeown, a Montreal couple facing a scalping suit. (All figures are in U.S. dollars.) The SEC says that the couple has failed to answer civil charges that stem from several stocks they promoted through their website, PennyStockChaser. The $3.7-million represents disgorgement of profits from the scheme, plus interest. The SEC has also asked the judge to permanently ban the couple from penny stocks and to impose a yet-to-be-determined civil penalty.
The SEC claims that the couple promoted 65 U.S. companies through PennyStockChaser and through accounts they controlled on Facebook and Twitter. During the promotions, they sold millions of shares, without fully disclosing the sales in promotional materials, according to the SEC. The regulator initially claimed that they grossed at least $2.4-million from the selling.
In seeking the default judgment, the SEC says that the couple has failed to file an answer to the case, despite being properly served with a complaint on June 23, 2010. When a defendant fails to respond, the allegations are deemed admitted, the motion states. The SEC has requested that the judge enter a default judgment, and then permit the regulator to submit an appropriate amount for a civil penalty.
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Dan Ryan has a huge head.He may not fully understand that they will lock him up if he doesn't pay or settle by ratting out other stock criminals.
Posted by my huge head at 2011-01-11 19:11
The SEC needs to investigate dozens of penny stock deals associated with Hilbroy Advisory Inc. that were promoted by PennyStockChaser. Hilbroy Advisory Inc. also uses Facebook and Twitter to create "awareness" for deals originally hijacked by Jason Wong and then managed by Hilbroy. The SEC will discover an enormous amount of bogus stock printed and cleared through Select American Transfer Co. There is plenty of evidence in Google of how extensive this fraud is.
Posted by Facts at 2011-01-11 21:49
When will the SEC go after the criminal swindlers who ran the outrageously fraudulent scams pumped by PennyStockChaser?
Posted by Facts at 2011-01-11 21:53
What other companies were promoted by PennyStockChaser?
Posted by Tony at 2011-01-11 22:43
PennyStockChaser.com heavily pumped Patriot Energy (PGYC.PK) which had Tony Bisante as President, of course the whole thing turned out to be a fraudulent scam. Here is a link to one of many PennyStockChaser.com PGYC.PK touts:
http://webcache.googleusercontent.com/search?q=cache:Gbcsj2fjC4EJ:www.tradingmarkets.com/.site/news/Stock%2520News/2264781/+pennystockchaser+pgyc.pk&cd=1&hl=en&ct=clnk&gl=us
Posted by Fake News Releases at 2011-01-12 05:12
Its interesting who was running PGYC.PK:
PATRIOT ENERGY CORP.'s (PGYC.PK) board of directors.
John Briner
Norman Newsom
Tony Papa
Jean Francois Amyot
Daniel Mastantuono
Daniel Ryan
Posted by Due Diligence at 2011-01-12 05:20
Norman Newsom is a no good rounder bumb.I ripped him off twenty years ago and it still feels good.
Posted by bill cundo at 2011-01-12 06:06
Jamie King and Paul Sexton involved w FCPG also..i lost my shirt once again on a King deal. somebody save us from these people. That is a classic pump and dump look at the chart!
Posted by beatdown at 2011-01-12 10:15
When did Norm Newsom get out of jail? Does anyone remember that deal he stole money from that landed his fat arse in jail?
Posted by The Pez at 2011-01-12 16:27
This doesn't surprise me much, some penny stocks sellers are terribly harassing.
Everyone who gathers info from those websites, and still worst from Facebook and Twitter, is somewhat naive.
What about the big US banks that sold to the whole world toxic assets while they where "betting" against them, and plunged the whole world in the crisis we've been through?
How many CEOs are in prison now? How many have been held personally responsible?
Not that I approve of what Ryan and McKeown did.
But it seems that they were not "too big too fail".
Posted by L.G. at 2011-01-12 16:34
Previous warning about pennystockchaser.com
Submitted: Monday, May 17, 2010
Pennystockchaser.com is a pump and dump website that gathers million of subcribers emails to promote stocks of companies that have no finances, no product, and no value. They partner with the company of which they are about to promote for free trading shares in the market so they can dump them on the public upon their mass email alerts to unsuspecting subscribers! This is a criminal act and I am awaiting an SEC criminal investigation! Always read their disclaimer in the small print under all their releases. They tell you not to invest unless you can afford to lose all your money. This is not the crime. The crime is trading on inside information of which they have negotiated with the companies they are pumping prior to releasing that information to the public. Their most recent release was Friday 5/14/2010 pumping SWRS.PK! They sent out an email to all their subscribers at 3:15 p.m. central time and the stock price was $.137 per share. It immediately sold off to $.092 per share for a major loss only to sell off again on Monday 5/17/2010 to $.045 per share! they dumped their shares to their subscribers causing the public to get taken by the penny stock chaser for about a 70% loss! The SEC needs to seriously put a stop to this fraud now!
Posted by Stock Fraud at 2011-01-12 16:35
Most of Pennystockchaser.com pumps were hijacked scam companies taken over by Jean-Francois Amyot (Hilbory Advisory Inc.) who used John Briner to write bogus opinion letters for billions of counterfeit shares cleared through illegally run Select American Transfer Co.
Here is one example:
LCOL.PK Hijack Time Line, formerly Ensec International Inc.
LOTTA COAL, INC (LCOL.PK)
PRINCIPAL ADDRESS
10151 UNIVERSITY BLVD., STE. 120
ORLANDO FL 32817
OLD NAME WAS : ENSEC INTERNATIONAL, Inc
The Ensec to Lotta Coal (LCOL) story:
Ensec International Inc, was a Florida corporation formed in April 1996 as a holding company for Ensec Inc., a Florida corporation (1991) and Ensec Engenharia e Sistemas de Seguranca, SA., a Brazilian corporation, Ensec, S.A. (1983). They designed, sold, installed and serviced security systems for large commercial or governmental facilities, ranging from single function installations to high-end integrated security systems. Bulk of the operations were in Brazil, however, company's principal executive offices were located at Boca Raton, Florida, and its sales office was located at One World Trade Center, Suite 3357, New York.
Amid financial/patent difficulties here’s a timeline of significant events:
2/28/1998 Ensec International closed offices in Boca Raton
10/23/1998 Ensec Inc files last annual report with Florida SoS
10/28/1998 Ensec International attempts to merge with Sentech International
2/27/1999 Ensec International files last annual report with Florida SoS
Sometime between 6/30/99 and 12/31/99 Sentech terminates merger with Ensec
9/9/1999 Finkel resigns as CEO and proxies his votes to Rosa, Rosa becomes CEO
9/9/1999 A letter of intent to sell Ensec assets to American Computer Machines is reported
9/24/99 Ensec Inc is administratively dissolved by Florida SoS for annual report
11/10/1999 Ensec International files 15-12g
Circa 2/2000 Ensec International Inc is administratively dissolved by Florida SoS for annual report
Bogus mirror Ensec International corporation created (P06000032239):
3/3/2006 Jason Wong files paperwork with Florida SoS that requests the name Ensec International. It is given to Wong as the legit Ensec International was admin dissolved over 5 years earlier. David Duncan is named Director and the address for the bogus Ensec International is the infamous University Blvd, Orlando location.
6/1/2006 A press release is issued: “TORONTO, Jun 1, 2006 (Market Wire delivered by Newstex) -- Ensec International Inc. (PINKSHEETS: ENSC) announced today that it has signed a letter of intent to acquire 100% of the outstanding shares of Lotta Coal Inc. as well as provided details to the special shareholders meeting held in Toronto on May 30, 2006.”
6/14/2006 Jason Wong files the amendment, 1/1000 r/s and name change to Lotta Coal. Document is signed 6/8/2006 and annotated that it was by shareholder vote.
7/06/2006 R/M completed.
3/26/2007 Jason Wong resigns as registered agent.
Returns to legit Ensec International corporation (P96000028650)
5/1/2007 Elizabeth Konieczny signs a reinstatement request as registered agent. Included are 3 years back annual reports.
New Company Officers
Nicolas Matossian, Chairman, Interim CEO, Acting President
Allen Soltis, COO, Dir.
Ron Evans, CFO, Dir.
Jean-Francois Amyot, VP, Bus. Affairs
David Glassman, VP, Investor Rel.
Marc Gagnon, Other
Later Jean-Francois Amyot becomes President
The SEC eventually caught up with these criminals in October, 2009 and suspended LCOL.PK
Here are some other Jean-Francois Amyot related scams:
DYFR.PK (SUSPENDED), AURC.PK, NWOL.PK, SOCI.PK (SUSPENDED), PGYC.PK (SUSPENDED), LVLV.PK (SUSPENDED), WHKA.PK (SUSPENDED), KNDR.PK, MGLC.PK, BIEL.PK, EGOC.PK
Posted by Wong Stocks at 2011-01-12 18:35
FCPG's trading is highly irregular to say the least!
Posted by pump and dump at 2011-01-13 18:16
what happens to the money the SEC collects from the criminals?? do they give it back to the public who LOST it? NO. they keep it. another US gov't money grab. they're not there to protect the public. they're there to get their share of the rip off. another part of the scam!!!!
ridiculous.
Posted by optimist at 2011-01-14 09:23
This will put a dent in the Head's bank account.
Posted by mongoloid at 2011-01-14 10:48
Sounds like AGORACOM.........again.......AGORACOM is going to get nailed by the SEC
CM
Posted by Canadian Mining at 2011-01-17 11:16
"According to the SEC, the couple had been promoting stocks since at least April, 2009, while failing to properly disclose that they were selling millions of shares in the companies they were touting."
These scam artists should be in prison!
Posted by securities fraud at 2011-01-19 00:00
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