SEC Charges Penny Stock Promoters in Series of Kickback Schemes

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SEC Charges Penny Stock Promoters in Series of Kickback Schemes

posted on Nov 19, 2010 01:41PM

Imagine that.

Washington, D.C., Oct. 7, 2010 — The Securities and Exchange Commission today charged more than a dozen penny stock promoters and their companies with securities fraud for their roles in various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales. One of the schemes was perpetrated by an actor who starred as a police officer on the long-running television show CHiPs.