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SEC shuts down PSC - Penny Stock Chaser

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Last Post: 3/31/2016 8:51:08 PM - Followers: 18 - Board type: Free - Posts Today: 0

PSC, PennyStockChaser, was a penny stock promotion company touting their picks for about a year.
The SEC has shut them down.

“As alleged in our complaint, McKeown and Ryan used all the modern methods to communicate with investors
including the PennyStockChaser website, e-mail, text messages, Facebook, and Twitter
yet failed to adequately communicate that their rosy predictions for touted stocks were
accompanied by their sales of those very same stocks.”
said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.




 

"The agency charged a Canadian couple, Carol McKeown and Daniel F. Ryan,with four counts of fraud for using their Penny Stock Chaser Web site and Facebook and Twitter feedsto promote a half-dozen companies’ stocks.What the two did not disclose to their followers, according to the complaint, filed in federal court in southern Florida,is that they were regularly selling shares in the companies they were hawking, a practice known as “scalping.”"

"According to the S.E.C.’s complaint, Ms. McKeown and Mr. Ryan began Penny Stock Chaser in the spring of 2009, promoting themselves as a husband-and-wife team that led a group of skilled stock pickers. Over the past year, their firm touted the stocks of at least 65 American companies. (The S.E.C. is pursuing the case in Florida because many of the couple’s trades were made in Boca Raton, although they were based in Montreal.)"


 

 the new york times piece
quoted above.

 

"The agency contends that the duo received "millions of shares" of the touted companies through their two corporations, Downshire Capital Inc. and Meadow Vista Financial Corp., as compensation for touting stocks, then sold the stocks while the website simultaneously predicted massive price increases. The SEC says the couple and their companies have likely realized at least $2.4 million in sales proceeds from the scheme." 
                         
 from the wall street journal write up.

"The government is seeking injunctions against the two, along with the disgorgement of ill-gotten gains, plus interest and a fine as well as penny-stock bars against them and repatriation of assets to the government. "

 

sec complaint montreal gazette
sec press release timothy sykes
Litigation Release No. 21580  the street

 

PostSubject
#88  Sticky Note Fair warning to all: Stock 07/02/10 10:38:14 AM
#1  Sticky Note here is body of release Buckey 07/01/10 10:50:55 AM
#292   Now, now rb, let's be honest. I've always dkester59 03/31/16 08:51:08 PM
#291   wow holy shit its a small world this Mr-Sir1995 04/05/13 06:23:35 AM
#290   I wouldn't be too sure. I'll be janice shell 02/24/13 02:11:08 PM
#289   Ok, well I guess it is a different Pennyprof 02/24/13 02:07:48 PM
#288   I just got my "Welcome" message from them, janice shell 02/24/13 02:04:26 PM
#287   hmmm... Note that they're calling themselves PennyStocksChaser. janice shell 02/24/13 01:43:53 PM
#286   Do you think they are back in business? Pennyprof 02/24/13 01:37:43 PM
#285   Anyone have any SEC info on Raymond Brown khaliis 12/21/12 06:39:10 PM
#284   Well I'll be damned! That's VERY much! janice shell 10/17/12 01:40:24 PM
#283   http://archive.org/download/gov.uscourts.nyed.331561/gov.uscourts.nyed.331561.1. mitt romknee 10/17/12 01:39:19 PM
#282   those fat bastards in the picture above.... IPO$ 12/08/11 09:44:45 AM
#281   I had to add BM#31 [SMART MONEY] 07/30/11 08:23:32 PM
#280   I know. But it's a terrible translation. janice shell 07/25/11 11:57:46 PM
#279   Here is the translated text of the AMF's EarnestDD 07/25/11 11:55:20 PM
#278   That case is gonna be interesting. janice shell 07/25/11 11:49:48 PM
#277   Dan Ryan got another mention from the AMF, EarnestDD 07/25/11 11:49:12 PM
#276   PennystockChaser aka @stockchaser Web Archives $PSC MaxShockeR 07/25/11 09:08:30 PM
#275   Is AURC involved in this? dcervan123 04/06/11 04:06:03 PM
#274   http://pipes.dealflow.com/wires/article.cfm?title=SEC-Wins-38M-Fines-Against-Can rocketrice 03/29/11 08:51:18 PM
#273   ? where? BEIJING BILL 12/16/10 09:33:47 PM
#271   Doing what? janice shell 11/17/10 07:24:10 PM
#270   i noticed that mr. ryan is back in Sportsjunkie 11/17/10 06:48:22 PM
#269   Hey, just chased ya down...I haven't been active rbtree 11/09/10 11:37:46 PM
#268   the .com one is also through Domains by cantgetmyname 11/03/10 08:57:49 AM
#267   Thanks. I didn't check #msg-53901219 but there you Stock 11/03/10 08:55:36 AM
#266   I'm responding to a post on another board cantgetmyname 11/03/10 08:47:37 AM
#265   Many thanks! Yes, I've seen the remnants janice shell 10/16/10 05:09:15 PM
#264   Sorry if this is off-topic here. arvitar 10/16/10 04:59:34 PM
#263   Does anyone know when PSC will have their BRIG_88 10/11/10 04:42:20 PM
#262   That's ok. stylecounciler 09/20/10 09:02:10 PM
#261   Because I have a bad memory, mostly. Stock 09/20/10 08:42:49 PM
#260   So why did you ask? stylecounciler 09/20/10 08:27:32 PM
#259   No, I never have. Stock 09/20/10 02:14:14 PM
#258   No. Have you? stylecounciler 09/20/10 02:00:28 PM
#257   Have you ever been an officer or director Stock 09/14/10 06:09:53 PM
#256   How i know that PennyStockChaser was on the stylecounciler 09/14/10 05:57:12 PM
#255   A lot of people might ask how you Stock 09/14/10 03:53:28 PM
#254   Here's one that got away. stylecounciler 09/14/10 03:44:16 PM
#253   This one is allegedly from June 1, 2010, Stock 09/08/10 12:04:20 PM
#252   That's the most recent, last one I could Stock 09/08/10 12:02:49 PM
#251   Posted by: Generic Stock 09/08/10 12:01:17 PM
#250   Does anyone have PSC's disclaimer copied before they MetalHead 09/08/10 11:45:14 AM
#249   Looks like a Caribbean island home. EarnestDD 09/07/10 09:48:49 PM
#248   really? http://investorshub.advfn.com/boards/read_msg.aspx?message_id=5397167 Stock 09/07/10 09:06:40 PM
#247   Well... as I said in my last janice shell 08/31/10 02:12:05 PM
#246   considering dan was pennystockchaser.com not net janice shell 08/31/10 02:01:45 PM
#245   Just to highlight my error: Stock 08/31/10 11:37:05 AM
#244   in this case yes but i am sure Sportsjunkie 08/31/10 09:32:25 AM
#243   I see. So that would be a mistake Stock 08/31/10 09:30:13 AM
#242   considering dan was pennystockchaser.com not net Sportsjunkie 08/31/10 09:28:20 AM
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