14:37:33 EST Sun 03 Mar 2024
Enter Symbol
or Name

Login ID:

SEC's Cool defendants protest pump-and-dump charges

2023-03-14 20:43 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

Marlio Diaz and Carlos Rezk, two Florida men charged by the U.S. Securities and Exchange Commission alongside Toronto's Andy DeFrancesco for an $8-million pump-and-dump, deny that they did anything wrong. (All figures are in U.S. dollars.) The SEC claims that the men were part of a scheme to mislead investors in a company that supposedly sold Apple products through a chain of retail stores. Among other things, the men claimed that the company's stores were outdoing major retailers in their ability to make sales.

The denials by Mr. Diaz and Mr. Rezk are contained in answers that they filed on March 10, 2023, in federal court in New York. The SEC claimed that the men helped Mr. DeFrancesco through the scheme, serving as officers of Cool Holdings Inc., the OTC Markets company at the centre of the alleged pump-and-dump. The men were behind promotional material that the SEC described as fraudulent, with that material failing to mention that Cool Holdings had serious financial problems and that it had a precarious relationship with its main supplier, Apple.

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.

nasdaq and NYSE are the scam capital of the world. SiVB not 1 news release disclosure and the market price collapses, then miraculously in 2 days over the weekend SiVB is removed fromt he stock exchange, no SEC proclamations of non disclosure's, just trillions of dollars wiped off face of the earth from investors pockets. Bernie Madoff was king of the NASDAQ, in laws in SEC, the whole racket let me continue the scam capital of the world- SiVB 100,000 scammers walking around and now getting paid USA government cash to steal more people's money.

Posted by oh at 2023-03-15 18:10