SEC HALTS USD165 MILLION MICROCAP FRAUD SCHEME

THE US Securities and Exchange Commission (SEC) said October 3 that it had filed an emergency action and obtained an asset freeze against two individuals and their companies in a scheme that generated more than USD165 million in illegal stock sales in at least 50 microcap companies. Over a dozen international regulators helped SEC investigators unravel the scam by analysing nearly 400 bank and brokerage accounts. British national Roger Knox and his Swiss-based company Wintercap SA helped microcap securities holders evade federal laws that restrict large ...


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