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by Mike Caswell

Kansas stock tout Alexander Kon, ordered to pay $760,058 after touting several listings in violation of a prior ban, has lost his appeal. (All figures are in U.S. dollars.) The U.S. Securities and Exchange Commission said that Mr. Kon accepted hundreds of thousands of dollars, mostly from Canadian accounts, to issue favourable reports on listed companies. He disguised his role by having an offshore associate ostensibly control his business, the SEC claimed.

The SEC won a $760,059 judgment against Mr. Kon on Feb. 9, 2023, an order that he almost immediately appealed. He has now lost that appeal, for reasons that are entirely technical. He failed to file all of the required documents on time, resulting in the appeal court dismissing his case. Mr. Kon, who was pursuing the matter without the benefit of a lawyer, had previously requested and received an extension to the filing deadline, but he only filed some of the required documents before that extension ran out.

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