Praxsyn Corp (PXYN)

[lucky, mydog]

The SEC’s complaint, filed in federal court in the Southern District of Florida, charges Praxsyn and Brady with violating antifraud provisions of the federal securities laws, and seeks permanent injunctive relief and civil penalties. The SEC also seeks an officer and director bar against Brady.

https://www.sec.gov/news/press-release/2020-97#.XqiNQUn5B2M.twitter

[Drugdoctor]

There are a lot of .0015 stocks I'd buy before I'd buy this one now off the gray markets, lol....

SKULL and CROSSBONES>>>

https://www.otcmarkets.com/stock/PXYN/overview

[Drugdoctor]

They likely just cancel the registration - and this company will be done!

[tiberius23]

Hopefully they hang him by the you know what. What what's going to happen after that.

[lucky, mydog]

except this ceo is not going to be ceo much longer.

[bigee]

Just like tesla , the ceo is the company.lol

[Drugdoctor]

LOL - because there is no company... The CEO is the company....

[bigee]

Sub sub pennies coming

[tiberius23]

I hope they can ban him all together looser. Why doesn't the company fire his ass.

[Hole shot King]

and Praxsyn has the honor of it being the first suit so the feds will what to make them an example

Covid-19 Mask Claims Draw SEC Eye to Praxsyn in First Suit

https://news.bloomberglaw.com/securities-law/covid-19-mask-claims-draw-sec-eye-to-praxsyn-in-first-suit

[lucky, mydog]

lolol. and there is a reason it's cheap. the sec is suing the ceo AND THE COMPANY for fines, disgorgement, and they are going to ban him from being an officer of any public company. considering that, it's still quite expensive.

[Atlanta1]

go for it.

[Luck vs logic]

Big opportunity to buy cheap. Pxyn at one tenth of a penny.

[tiberius23]

Why don't they get rid of that looser CEO.

[lucky, mydog]

pxyn has been available to trade since 04/09/20. as you can see below, it's only traded on 2 days.

https://ih.advfn.com/stock-market/USOTC/praxsyn-gm-PXYN/historical

[Hole shot King]

not sure imo it will be a long time

[NorthShoreTrading]

So when does PXYN reopen for trading on the Grey's?

[Hole shot King]

any connections ?? it is good to see the feds moving fast


Two Individuals Arrested for Conspiring to Violate the Defense Production Act

https://www.justice.gov/usao-edny/pr/two-individuals-arrested-conspiring-violate-defense-production-act

According to court filings, between March 2020 and April 2020, Bulloch and Young sought out potential investors to sell one million KN95 respirator masks for double or triple the purchase price. To conceal their exorbitant markup on the masks, Bulloch created and signed an escrow agreement for a purported investor that falsely stated that the profits on the re-sale of the masks would not exceed 10 percent. Unbeknownst to the defendants, the purported investor was a federal law enforcement agent.

[Hole shot King]

they should be forced to buy that big dump back on the open market

[lucky, mydog]

hang him high and get our money back ...

and seeks permanent injunctive relief and civil penalties. The SEC also seeks an officer and director bar against Brady.

[Hole shot King]

After regulatory inquiries, Praxsyn issued a third press release on March 31 admitting that it never had any masks available to sell.

SEC.gov | SEC Charges Company and CEO for COVID-19 Scam

https://www.sec.gov/news/press-release/2020-97#.XqiNQUn5B2M.twitter

hang him high and get our money back ...

[Hole shot King]

SEC Charges Company and CEO for COVID-19 Scam

$PXYN



https://www.sec.gov/news/press-release/2020-97

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-97.pdf

[Praxsyn Sucker]

Finally......

[lucky, mydog]

SEC Charges Company and CEO for COVID-19 Scam

oh, here's the links.

https://www.sec.gov/news/press-release/2020-97

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-97.pdf

[lucky, mydog]

i'm going to guess he knows now.

[lucky, mydog]

that was very fast. years would not be uncommon.

[Atlanta1]

ROFLMFAO

[LessIsMore]

SEC Charges Company and CEO for COVID-19 Scam
FOR IMMEDIATE RELEASE
2020-97
Washington D.C., April 28, 2020 —
The Securities and Exchange Commission today announced charges against Praxsyn Corp. and its CEO for allegedly issuing false and misleading press releases claiming the company was able to acquire and supply large quantities of N95 or similar masks to protect wearers from the COVID-19 virus. The SEC previously issued an order on March 26 temporarily suspending trading in the securities of Praxsyn.
According to the SEC’s complaint, Praxsyn, which is purportedly based in West Palm Beach, Florida, issued a press release on Feb. 27 stating that it was negotiating the sale of millions of N95 masks and “evaluating multiple orders and vetting various suppliers in order to guarantee a supply chain that can deliver millions of masks on a timely schedule.” On March 4, Praxsyn issued another press release claiming it had a large number of N95 masks on hand and had created a “direct pipeline from manufacturers and suppliers to buyers” of the masks. Praxsyn’s CEO Frank J. Brady was quoted in the release as telling any interested buyers that the company was accepting orders of a minimum of 100,000 masks. Despite these claims, according to the complaint, Praxsyn never had any masks in its possession, any orders for masks, or a single contract with any manufacturer or supplier to obtain masks. After regulatory inquiries, Praxsyn issued a third press release on March 31 admitting that it never had any masks available to sell.
“As alleged in the complaint, in the midst of the ongoing COVID-19 pandemic, Praxsyn and Brady sought to exploit unsuspecting investors by issuing false and misleading press releases concerning Praxsyn’s ability to source and supply N95 masks for the COVID-19 virus,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.
“Today’s fraud action against Praxsyn and its CEO demonstrates the SEC’s dedication to investor protection and accountability,” said Steven Peikin, Co-Director of the SEC's Division of Enforcement. “We will move swiftly against those who seek to profit off this national emergency by cheating or misleading investors.”
“The Enforcement Division is committed to swiftly shutting down COVID-19 investment scams, seeking trading suspensions where appropriate, and pursuing fraud charges against both entities and individuals when warranted,” said Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement.
The SEC’s complaint, filed in federal court in the Southern District of Florida, charges Praxsyn and Brady with violating antifraud provisions of the federal securities laws, and seeks permanent injunctive relief and civil penalties. The SEC also seeks an officer and director bar against Brady.
The SEC’s investigation, which is ongoing, has been conducted by the Microcap Fraud Task Force and supervised by Elisha L. Frank and Glenn S. Gordon. Robert K. Levenson is leading the SEC’s litigation under the supervision of Andrew O. Schiff. The SEC appreciates the assistance of the Financial Industry Regulatory Authority (FINRA).
The SEC’s Office of Investor Education and Advocacy previously

[INTHEKNOW1]

THINK THEY HAVE PROBLEMS BE CAREFUL .

[Hole shot King]

In a major breakthrough protecting the public from coronavirus fraudsters, the U.S. Securities and Exchange Commission announced that it opened numerous investigations into companies (including small companies that sell “microcap” stocks at low prices) suspected of engaging in fraudulent promotions related to the prevention, detection or cure of the coronavirus. The SEC has already suspended 23 companies from trading on Wall Street due to suspected frauds.

“Whistleblowers will play a central role in protecting the public from outrageous and dangerous fraud schemes designed to profit from the coronavirus crisis illegally. Several laws protect employees who report coronavirus fraud. The Dodd-Frank Act’s whistleblower provisions enable the SEC to obtain insider information essential to holding people who engage in securities frauds accountable,” said Stephen M. Kohn, a partner at the qui tam law firm of Kohn, Kohn and Colapinto. Kohn serves as the Chairman of the Board of Directors of the National Whistleblower Center and is the author of The New Whistleblower’s Handbook.

“Every individual with knowledge of coronavirus frauds can file whistleblower claims anonymously and confidentially with the SEC or the Commodity Futures Trading Commission, depending on the nature of the fraud. The IRS whistleblower program and federal and state False Claims Acts also provide whistleblowers with powerful tools to help prosecute anyone ripping off taxpayer monies to profit from the COVID-19 crisis,” Kohn explained

Under the Dodd-Frank Act’s whistleblower provisions, any individual can report frauds that may violate securities laws related to the coronavirus pandemic. If the SEC successfully prosecutes a fraudster, the whistleblower can be entitled to a reward of between 10-30% of the monies collected by the SEC. The law also permits whistleblowers to obtain rewards based on “related actions,” i.e., prosecutions initiated by other law enforcement agencies based on the information provided to the SEC. Since 2011, the SEC has paid whistleblowers over $400 million in rewards.

In addition to opening numerous investigations and taking prompt enforcement actions, the SEC published a COVID-19 “response” page and a web page dedicated to securities violations and requirements concerning COVID-19.

The suspended companies include:

Predictive Technology Group, Inc. (4/21/2020)

Spectrum DNA, Inc. (4/21/2020)

SCWorx Corp. (4/21/2020)

PreCheck Health Services, Inc. (4/16/2020)

Bravatek Solutions, Inc. (4/15/2020)

BioXyTran, Inc. (4/15/2020)

Signpath Pharma, Inc. (4/15/2020)

Applied BioSciences Corp. (4/13/2020)

Arrayit Corporation (4/13/2020)

Solei Systems, Inc. (4/10/2020)

Roadman Investments Corp. (4/10/2020)

Parallax Health Sciences, Inc. (4/10/2020)

Turbo Global Partners, Inc. (4/9/2020)

BioELife Corp. f/k/a U.S. Lithium Corp. (4/8/2020)

Key Capital Corporation (4/7/2020)

Prestige Capital Corp. (4/7/2020)

Wellness Matrix Group, Inc. (4/7/2020)

Sandy Steele Unlimited Inc. (4/3/2020)

No Borders, Inc. (4/3/2020)

Praxsyn Corporation (3/25/2020)

Zoom Technologies, Inc. (3/25/2020)

Eastgate Biotech Corp. (2/24/2020)

Aethlon Medical, Inc. (2/7/2020)

“Employees at any of these companies can confidentially provide evidence to the SEC and qualify for whistleblower rewards,” Kohn said. “Whistleblowers can obtain rewards if they triggered these investigations or if they contribute to the ongoing SEC investigations,” Kohn explained. Kohn worked with staff at the Senate Banking Committee in helping to draft the whistleblower protection provisions. He represents several clients who have filed claims under the Dodd-Frank Act. One of his clients obtained one of the largest awards publicly announced by the SEC.

https://www.whistleblowersblog.org/2020/04/articles/featured-story/sec-tackles-coronavirus-frauds/

[Hole shot King]

https://www.sec.gov/whistleblower

[Praxsyn Sucker]

Forget about a lawsuit. They're all going declare bankruptcy. Besides, the only people who make any money are the lawyers. Hopefully there will be some form of justice.
SEC, if you're watching/pursuing this, contact me. I was in this scam, about 10 years ago before they went public and it was sold to me as compounding pharmacy company. I have emails, texts, paperwork, etc. you can look at. Maybe it will help, maybe it won't. All I can tell you is, the people and lawyers I talked with there are all liars and crooks!

[bigee]

Now for example pxyn. My watchlist. Timing is everything . It's a waiting game now.

[bigee]

Let me explain what I mean. Two weeks ago I bought $decn at 12 cents. Yesterday sold it for .47 cents. Today the SEC suspended the ticker. I dont care about the company. I know it's all fake news , penny stocks. Volume and chart patterns.

[bigee]

I trade the ticker not the company. Waiting now. Timing is perfect

[Praxsyn Sucker]

What part of SCAM do you not understand?

[namtae]

Not surprised

I researched this POS long ago and unravelled the sophisticated scam that was taking place. So many defended this junk but as always, the Ihub SuperGenius prevails.

This latest round of scam should not be surprising

Criminal charges to follow?

[Luck vs logic]

Pxyn back online at schwab.

[Atlanta1]

so 3000 shares was his "big chunk"?

[bigee]

Finally it's up and running . Buying a big chunk tomorrow.

[bigee]

Did you buy some?

[lucky, mydog]

still overpriced?

[Hole shot King]

Fraud in the COVID-19 Age: Examining and Anticipating Changing Enforcement Activity

https://www.gibsondunn.com/fraud-in-the-covid-19-age-examining-and-anticipating-changing-enforcement-activity/#_ftn8

[Hole shot King]

Key Cases and Developments

https://www.davispolk.com/files/sec_and_cftc_enforcement_update_april_2020.pdf

[Hole shot King]

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 88479 / March 25, 2020

The U.S. Securities and Exchange Commission announced the temporary suspension,
pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”),
of trading of the securities of Praxsyn Corporation (“PXYN”), of West Palm Beach,
Florida at 9:30 a.m. EDT on March 26, 2020, and terminating at 11:59 p.m. EDT on
April 8, 2020.
The Commission temporarily suspended trading in the securities of PXYN because of
questions that have been raised about the accuracy and adequacy of information in the
marketplace relating to PXYN common stock.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that
they should carefully consider the foregoing information along with all other currently
available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11
under the Exchange Act, at the termination of the trading suspension, no quotation may
be entered unless and until they have strictly complied with all of the provisions of the
rule. If any broker or dealer has any questions as to whether or not he has complied with
the rule, he should not enter any quotation but immediately contact the staff in the
Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-
5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he
should refrain from entering quotations relating to PXYN’s securities until such time as
he has familiarized himself with the rule and is certain that all of its provisions have been
met. If any broker or dealer enters any quotation that is in violation of the rule, the
Commission will consider the need for prompt enforcement action.
If any broker, dealer or other person has any information that may relate to this matter,
they should immediately contact Jason R. Berkowitz, Assistant Regional Director, at
[phone], or Elisha L. Frank, Assistant Regional Director, at [phone]. The
Commission appreciates the assistance of the Financial Industry Regulatory Authority
(FINRA)


https://www.sec.gov/litigation/suspensions/2020/34-88479.pdf


https://www.globenewswire.com/news-release/2020/03/31/2009653/0/en/Praxsyn-Retracts-Prior-Press-Releases-Regarding-Surgical-Masks-for-Corona-Virus.html

[Drugdoctor]

Wow that's five 0's in front of the 1... nice trade...

[Hole shot King]

Hopefully with a ball and chain for the people of Praxsyn Corp

that sticky should be removed

[NASDAQ2020]

How's that coming ?

[bigee]

We need news

[lucky, mydog]

this has been available to trade on the grey market since 04/09/20. there just haven't been any trades.