11:32:38 EDT Sat 08 Aug 2020
Enter Symbol
or Name

Login ID:

SEC seeks ban, $2.14-million (U.S.) fine for Skerry

2019-11-06 10:33 ET - Street Wire

Also Street Wire (U-SHGT) Success Holdings Group International 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 has asked an Indiana judge to impose a permanent penny stock ban and $2.14-million in sanctions on Michael Skerry, a New Westminster man who carried out an "egregious and repetitive" scheme to sell unregistered shares of an OTC Link company. (All figures are in U.S. dollars.) The SEC says that the penalty is warranted, as Mr. Skerry committed multiple violations, secretly selling shares as he strongly encouraged investors to buy the company. His actions, which continued over a period of six months, exposed investors to substantial risks, the SEC says.

The potential fine and ban come as part of a case that the SEC is pursuing against Mr. Skerry, 62, for boosting a listing called Success Holding Group International Inc. in 2014. According to the SEC, he touted the company as a provider of health drinks and on-line movies, and at the same time was secretly selling shares. During the scheme, the stock went to $10.25 from $1, and was last at 10 cents.

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.