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SEC permanently bans Zenosense defendant Clarke

2022-07-25 20:55 ET - Street Wire

Also Street Wire (U-ZENO) Zenosense Inc

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by Mike Caswell

The U.S. Securities and Exchange Commission has permanently banned Henry Clarke, a U.K. man charged alongside Canadians Julius Csurgo and Dean Shah for a scheme to sell $13.4-million worth of stock on the U.S. markets. (All figures are in U.S. dollars.) The SEC said that Mr. Clarke was part of the pump-and-dump of Zenosense Inc., the developer of a supposed hand-held medical diagnostic device. The group unloaded shares through offshore nominees as paid touts called the company a "rare ground-floor opportunity," the SEC claimed.

Mr. Clarke's ban is contained in a consent judgment filed in federal court in New York on July 21, 2022. The order permanently bars him from penny stocks and restrains him from future violations. He must also disgorge his gains and pay a fine, with the judge to determine the amounts. The order represents a negotiated settlement, in which Mr. Clarke has not admitted any wrongdoing.

While the judgment mostly resolves the case against Mr. Clarke, determining the amount that he must pay will not be a straightforward exercise. When it filed the case, the SEC said that he and Mr. Shah unloaded 6.6 million shares during the scheme, generating $2.3-million in gains. Mr. Clarke, however, denied that he received that much money, saying that he did not enjoy the "fabulous alleged profits" that others saw. It will be for the judge to determine the actual amount.

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snowden book permanent record.....americans busting any crime but terror and law enforcement, lawyers and judges caught

Posted by read it and learn at 2022-07-26 11:24