06:35:04 EDT Wed 12 Aug 2020
Enter Symbol
or Name

SEC charges Clozza for Forum manipulation

2014-11-20 12:59 ET - Street Wire

Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-FMNL) Forum National Investments Ltd

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 filed civil charges against Vancouver's Dan Clozza and others for fraudulently manipulating Forum National Investments Ltd., a purported travel company that owned a 170-foot yacht. The SEC claims that Mr. Clozza set up a misleading on-line touting campaign that boosted the company to $1.90. (All figures are in U.S. dollars.) During the campaign his relatives and associates sold over one million shares, the SEC claims.

The allegations are contained in a civil complaint the SEC filed against Mr. Clozza and others on Tuesday, Nov. 18, in the Central District of California. The complaint identifies Mr. Clozza, 54, as Forum's president and one of its largest shareholders. The other defendants are Robert Dunn, 35, of Abbotsford, who allegedly helped organize and pay for the touting campaign. Also named are two on-line touts: William Anguka, 28, of California; and Ahmad Ghaznawi, 28, of Nebraska.

Dan Clozza
Dan Clozza

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

© 2020 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

Who wound up with the Ship? I hate all these low-life scammers, but I bet they partied away a few million bucks on that baby.

Posted by shoes at 2014-11-20 16:57

Comments for this item are closed