Paul Levenson, Director of the SEC’s Boston Regional Office commented:
Microcap stocks can be particularly vulnerable to manipulative schemes, and investors should be alert to the heightened risks that exist during this national emergency. The SEC will continue to act quickly to protect investors from investment scams, including those seeking to capitalize on the COVID-19 crisis.
The SEC’s complaint charges Gomes, Luckhoo-Bouche, Roe, Warawa, FFS Capital Limited and Atlantean Management Corporation with violating the antifraud and registration provisions of the federal securities laws. It also charges Schmidt with violations of the antifraud provisions and Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited and Thyme International Limited with registration violations. The Commission seeks permanent injunctions, conduct based injunctions, disgorgement of allegedly ill-gotten gains plus interest, civil penalties and penny stock bars.
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