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by Mike Caswell
The U.S. Securities and Exchange Commission has requested a $906,468 judgment against Alexander Kon, a Kansas stock tout with Canadian connections. (All figures are in U.S. dollars.) The SEC says that Mr. Kon accepted a one-year ban in 2018, and then immediately ignored the ban. He accepted hundreds of thousands of dollars to tout multiple companies, with most of the money coming from Canadian accounts, the SEC claims.
The request from the SEC is contained in a motion the regulator filed on Friday, May 20, in federal court in Florida. The $906,468 the SEC is seeking includes disgorgement of $585,960 in gains, plus interest. The SEC is also asking that the judge impose a $250,000 fine.
In seeking the penalties, the SEC says that it is clear Mr. Kon is a recidivist violator. In 2018, he agreed to a one-year ban to settle charges arising from his promotion of a medical marijuana listing. Those charges stemmed from his failure to disclose the source of a $25,000 payment that he received.
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