10:10:38 EDT Wed 22 May 2024
Enter Symbol
or Name

Login ID:

SEC freezes accounts, properties in Stubos case

2022-06-30 20:49 ET - Street Wire

Also Street Wire (U-PSON) Petrosonic Energy 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 obtained a court order freezing several bank and brokerage accounts belonging to George Stubos, a Vancouver man accused of illegally dumping $21.4-million worth of stock amidst paid promotions. (All figures are in U.S. dollars.) The SEC says that Mr. Stubos, 55, unloaded millions of shares in two OTC Markets listings between 2012 and 2014. He concealed his holdings by using offshore nominees, according to the SEC.

The asset freeze for Mr. Stubos is contained in an order entered on June 28, 2022, in federal court in New York. It applies to accounts at Canaccord Genuity Corp. and Canadian Imperial Bank of Commerce in the names of Mr. Stubos and his wife. In addition, the order freezes properties in Vancouver as well as a residence in Palm Springs, Calif. The order does allow Mr. Stubos and his wife to spend $140,000 from their accounts to pay lawyers. There was no hearing to determine the order, as its terms were agreed upon between the parties.

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.

Comments for this item are closed