DD Support Board and Research Team

[nodummy]

Nice they finally got Luke Zouvas!

He has helped with dozens of these S-1 shell schemes.

http://www.sec.gov/litigation/complaints/2016/comp23526-zouvas.pdf


I don't get why they never penalize the Transfer Agents for facilitating these types of schemes without questioning the obviously fraudulent share transfers being done between the nominee seed shareholders and the scammers running the scheme.

These schemes always work the same way. The whole IPO is always just a sham using fake seed shareholders and nominee officers.

Several of these IPO shams are allowed to go public every month many of which end up later becoming paid promotions sucking millions of dollars out of the pockets of retail investors. It seems like it would be so simple for the SEC to make some changes to better police the shares being created through the offering. Obviously the Transfer Agents and the Brokers are always just going to look the other way and facilitate the schemes so the SEC has to step up and make some changes.