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 been unable to find Luis Carrillo, the former San Diego lawyer accused of running a "massive dump of shares" on the OTC Markets. The SEC claimed that Mr. Carrillo was behind the illegal sale of shares in a pair of Vancouver-area companies listed on the OTC Markets, including one that produced $7-million in gains. (All figures are in U.S. dollars.) He ran a Colombian boiler room that used high-pressure sales tactics while he and his associates secretly dumped shares, the SEC said.
The SEC filed the charges against Mr. Carrillo on Aug. 4, 2021, but serving him with the necessary documents has proven difficult. As with most civil cases, the SEC is required to serve him with its complaint in person. Should that prove impossible, the SEC must obtain permission from the judge for another method of service.
To that end, the SEC filed a motion on Monday, Dec. 19, setting out its efforts at finding Mr. Carrillo. While he once lived in San Diego, Mr. Carrillo's last known location was in Mexico. The SEC says that in September, 2022, it sent a process server to find him at an address in Tijuana. That process server was initially unable to find the address, but he eventually concluded that it belonged to an unmarked, 10-storey building.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2023 Canjex Publishing Ltd. All rights reserved.