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The Securities and Exchange Commission charged Nicholas Geranio with masterminding a $35 million international boiler room scheme.
The Haleiwa, Hawaii, resident is accused of setting up of companies and installing management so that he could sell the companies' Regulation S shares through call centers that he operated in Spain, using high-pressure tactics and false and misleading information. More
Bullfrog Gold (BFGC) was granted full DTC eligibility after challenging a decision by the Depository Trust Co. to not provide electronic clearing and settlement services for the gold producer's stock, according to Harvey Kesner, a partner with law firm Sichenzia Ross Friedman Ference, which represented Bullfrog in the appeal. More
Reverse mergers "don't seem to be much of a business model moving forward," following the Securities and Exchange Commission's suspension in trading of 379 shell companies, said Crocker Coulson, president of microcap investor relations firm CCG Investor Relations. More
Mackie Barch, the chief executive officer of vitamin distributor Sunpeaks Ventures (SNPK), sold a 74% stake in the shell company Georgetown Corp. (GTCP) for $25,000 after paying $383,000 to purchase the company last November. More
China Natural Gas (CHNG) and its former chief executive officer Qinan Ji are facing civil fraud charges as the Securities and Exchange Commission alleges that Ji lied about a pair of loans totaling $14.3 million that went to Ji's son, nephew and a friend. More
Jon Carnes has a confession to make. "I am Alfred Little," he said by phone from his Vancouver, British Columbia, home.
The anonymous blogger known as Alfred Little is being sued in New York State Supreme Court by Silvercorp Metals (SVM) over claims that he made false statements that damaged the company. More
David Blech of Manhattan pleaded guilty to two criminal charges of manipulating the shares of biotech companies Pluristem Therapeutics (PSTI) and Intellect Neurosciences (ILNS). More
The Public Company Accounting Oversight Board may be allowed to observe audits of U.S.-registered companies in China as soon as this summer, PCAOB Chairman James Doty told Reuters.
The PCAOB has been trying since 2007 to negotiate access to the audit work of U.S.-registered companies in China. More
WMX Group, a Cambridge, Mass-based holding company that says it plans to operate a commodities trading platform, has gone public in the U.S. through a reverse merger. More
China Shenghuo Pharmaceutical Holdings (KUN) will not cease reporting to the Securities and Exchange Commission, reversing a decision announced by the company last month. More
While the diplomatic meetings between the Obama administration and Chinese officials have been overshadowed by the fate of Chinese activist Chen Guangcheng, the Public Company Accounting Oversight Board has confirmed that PCAOB Chairman James Doty is in Beijing negotiating over access for the accounting watchdog in China. More
The Securities and Exchange Commission has begun administrative proceedings against Chinese oil field services company SinoTech Energy (CTESY) that could result in the revocation of the company's stock registration. More
Worldwide Energy and Manufacturing USA (WEMU) has had its registration revoked by the Securities and Exchange Commission. More
New York State Supreme Court Judge Carol Edmead will close her courtroom on May 16 so a person associated with anonymous blogger Alfred Little can answer to allegations made by Deer Consumer Products (DEER) that Alfred Little wrote false reports about the company that caused the stock to plunge. More
The Securities and Exchange Commission suspended trading in 379 shell companies in a move that it said was meant to prevent "fraudsters" from harming investors through "reverse mergers and pump and dump schemes." More
Oryon Technologies (ORYN), a developer of lighting technology, has completed a reverse merger.
The Addison, Texas-based company has developed and licensed technology that allows lighting in everything from keypads to athletic clothing, according to its merger filing. More
The Securities and Exchange Commission has brought an enforcement action against Deloitte Touché Tohmatsu over the auditing firm's failure to produce work papers from its audits of a Chinese company, that the SEC didn't identify, under investigation by the commission. More
KDP Partners has purchased a controlling interest in the shell company RVPLus Inc. (RVPL) for $300,000, with plans to use it as a vehicle for an energy-efficiency services business. More
Alfred Little, the anonymous blogger accused of disparaging Silvercorp Metals (SVM) for the benefit of short sellers, filed a motion asking for Silvercorp's lawsuit to be dismissed. More
Ambulance operator Xtreme Healthcare has purchased a 67% interest in Bluewood Acquisition from Beverly Hills, Calif.-based shell company sponsor Tiber Creek for $1,950. More
The Psychic Friends Network (PFNI)? Yeah, there's an app for that, almost.
The Henderson, Nev.-based company that was well-known in the 1990s for its late-night infomercials hosted by singer Dionne Warwick is trying to make a comeback. More
Philadelphia-based shell sponsor William Tay has registered a fresh batch of Form 10 shell companies with the Securities and Exchange Commission. More
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