01:35:49 EDT Wed 07 Jun 2023
Enter Symbol
or Name

Login ID:

SEC charges DeFrancesco for $8M (U.S.) fraud

2023-01-06 20:50 ET - Street Wire

Also Street Wire (U-AWSM) Cool Holdings 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 filed civil fraud charges against Toronto-area cannabis investor Andy DeFrancesco, citing him for an $8-million pump-and-dump on the U.S. markets. (All figures are in U.S. dollars.) The SEC claims that Mr. DeFrancesco was behind a scheme to mislead investors in a company that supposedly sold Apple products through a chain of retail stores. Mr. DeFrancesco and others misled investors about the company's prospects, in particular its relationship with Apple, while Mr. DeFrancesco unloaded shares he held through nominees, the SEC says.

The charges against Mr. DeFrancesco are contained in a civil complaint that the SEC filed on Friday, Jan. 6, in federal court in New York. The complaint identifies Mr. DeFrancesco, 52, as the former chairman of Cool Holdings Inc., a Miami company with a chain of stores that it called OneClick. Also a defendant is Mr. DeFrancesco's ex-wife, Catherine DeFrancesco, 51, who was the nominal president of several private entities that Mr. DeFrancesco controlled.

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.

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.

Maybe Delvin wont be driving an Indy Car in 2023 ?????????

Posted by sequential at 2023-01-09 14:46