Xytos Inc. (fka XYTS)

[Randizzle]

One thing is for sure, Tim didn't act alone. How many have come to this board throughout the years because they were enticed by someone else to buy into Xytos. That Xytos was going to take off. There were a few solicitors out there that may feel nervous if Tim decides he wants to point fingers.
Tim offered his fake company to buyers who wanted to get in "on the ground floor" when he was trying to peddle this company in Germany.

The Commission's complaint alleges that, between 2010 and March 2013, Cook misrepresented Xytos to the investing public as an operational biomedical company specializing in cancer treatment. Meanwhile, according to the compliant, Cook sold millions of his own Xytos shares on the open market and lived off the more than $400,000 in proceeds from those fraudulent sales.
The Commission's complaint alleges that Cook also raised over $100,000 from several private offerings of Xytos shares. The complaint further alleges that Cook, after soliciting private investors with false and misleading offering documents, misappropriated investor money to pay for personal expenses such as clothing and entertainment. Additionally, the complaint alleges that Cook concealed his fraud from Xytos shareholders through a series of misleading shareholder updates.


http://www.sec.gov/litigation/litreleases/2013/lr22783.htm