Thursday, July 16, 2015 2:57:54 PM
"SEC allegations
The SEC accused the defendants of fraud, manipulative trading, touting, and registration violations. According to the Commission, nine of the defendants are facing criminal charges due to their involvement in the stock manipulation scheme.
The Commission accused Moneyline Brokers and its founders Harold Bailey “BJ” Gallison II of illegally operating as a broker-dealer for US-based customers engaged in pump and dump schemes—artificially inflating the price of a stock and selling their stake. Moneyline Brokers is based in Costa Rica.
The SEC alleged that Moneyline and some of its employees regularly accepted transfers of microcap stocks from US-based customers. They had stock certificates reissued under the name of Moneyline to hide their ownership.
The Commission also accused Miami residents, Carl H. Kruse Sr. and Carl H. Kruse Jr. of conspiracy to manipulate trading in Warrior Girl Corp, a former shell company controlled by the father and son. According to the SEC, the Kruses colluded with Moneyline and others. They engaged in multiple trading manipulations and made illegal profits of approximately $2.3 million."
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WRGL
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