SEC, DOJ charge Adam for planned manipulation
2015-05-26 20:11 ET - Street Wire
Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-HBPE) HBP Energy Corp
Also Street Wire (C-OXI) Oxford Resources Inc
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 and Department of Justice have charged Vancouver's Mitchell Adam and an associate, Kenneth David Stevenson, for their roles in a 2013 market manipulation scheme. Prosecutors claim that the men planned an elaborate pump-and-dump of a purported oil company, HBP Energy Corp. The alleged plan, which included wash trades and cold-calling, fell apart after an associate began co-operating with authorities.
Authorities arrested Mr. Adam on the charges last week at the Houston George Bush Intercontinental Airport in Texas. He appeared before a judge there who ordered the U.S. Marshals Service to transport him to New Jersey, where the case was filed. Agents took Mr. Stevenson into custody on Dec. 9, 2013, but kept the file sealed until after Mr. Adam's arrest.
 |
| LINKED IN |
| Mitchell Adam |
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2024 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.
From what I know this guy just helps set up German listings. Sounds like a set up to me and an overreach.
Posted by Presumed Innocent at 2015-05-27 11:01
The SEC sure seems to have a heck of a lot better rate of collection than the BCSC or IIROC.
Maybe they could bundle up their outstanding and uncollected portfolios and flog them to the SEC for 10 cents on the dollar?
Posted by harpinder at 2015-05-27 13:00
Comments for this item are closed