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
Alexander Kon, a Kansas stock tout ordered to pay $760,059 after touting several listings in violation of a prior ban, has filed an appeal. (All figures are in U.S. dollars.) The U.S. Securities and Exchange Commission said that Mr. Kon accepted hundreds of thousands of dollars, mostly from Canadian accounts, to issue favourable reports. He disguised his role by having an offshore associate ostensibly control his business, the SEC claimed.
Mr. Kon's appeal is contained in a notice filed on Monday, March 6, with the U.S. Court of Appeals for the Eleventh Circuit. The one-sentence filing provides no details, simply stating that Mr. Kon is appealing the judgment against him. He filed the notice himself, without the benefit of a lawyer.
The fine that Mr. Kon is appealing arose after he violated a ban from 2018. The SEC said that Mr. Kon failed to disclose the source of a $25,000 payment that he received to tout a medical marijuana listing. To settle that case, Mr. Kon accepted an order that barred him from promoting stocks for one year.
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.