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Created: 07/01/2010 10:49:05 AM - Followers: 17 - 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

 

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#88
Fair warning to all: Stock 07/02/2010 02:38:14 PM
#1
here is body of release Buckey 07/01/2010 02:50:55 PM
#292 Now, now rb, let's be honest. I've always dkester59 03/31/2016 08:51:08 PM
#291 wow holy shit its a small world this Mr-Sir1995 04/05/2013 06:23:35 AM
#290 I wouldn't be too sure. I'll be janice shell 02/24/2013 02:11:08 PM
#289 Ok, well I guess it is a different Pennyprof 02/24/2013 02:07:48 PM
#288 I just got my "Welcome" message from them, janice shell 02/24/2013 02:04:26 PM
#287 hmmm... Note that they're calling themselves PennyStocksChaser. janice shell 02/24/2013 01:43:53 PM
#286 Do you think they are back in business? Pennyprof 02/24/2013 01:37:43 PM
#285 Anyone have any SEC info on Raymond Brown khaliis 12/21/2012 06:39:10 PM
#284 Well I'll be damned! That's VERY much! janice shell 10/17/2012 01:40:24 PM
#283 http://archive.org/download/gov.uscourts.nyed.331561/gov.uscourts.nyed.331561.1. mitt romknee 10/17/2012 01:39:19 PM
#282 those fat bastards in the picture above.... IPO$ 12/08/2011 09:44:45 AM
#281 I had to add BM#31 G2G 07/30/2011 08:23:32 PM
#280 I know. But it's a terrible translation. janice shell 07/25/2011 11:57:46 PM
#279 Here is the translated text of the AMF's EarnestDD 07/25/2011 11:55:20 PM
#278 That case is gonna be interesting. janice shell 07/25/2011 11:49:48 PM
#277 Dan Ryan got another mention from the AMF, EarnestDD 07/25/2011 11:49:12 PM
#276 PennystockChaser aka @stockchaser Web Archives $PSC MaxShockeR 07/25/2011 09:08:30 PM
#275 Is AURC involved in this? dcervan123 04/06/2011 04:06:03 PM
#274 http://pipes.dealflow.com/wires/article.cfm?title=SEC-Wins-38M-Fines-Against-Can rocketrice 03/29/2011 08:51:18 PM
#273 ? where? BEIJING BILL 12/16/2010 09:33:47 PM
#271 Doing what? janice shell 11/17/2010 07:24:10 PM
#270 i noticed that mr. ryan is back in Sportsjunkie 11/17/2010 06:48:22 PM
#269 Hey, just chased ya down...I haven't been active rbtree 11/09/2010 11:37:46 PM
#268 the .com one is also through Domains by cantgetmyname 11/03/2010 08:57:49 AM
#267 Thanks. I didn't check #msg-53901219 but there you Stock 11/03/2010 08:55:36 AM
#266 I'm responding to a post on another board cantgetmyname 11/03/2010 08:47:37 AM
#265 Many thanks! Yes, I've seen the remnants janice shell 10/16/2010 05:09:15 PM
#264 Sorry if this is off-topic here. arvitar 10/16/2010 04:59:34 PM
#263 Does anyone know when PSC will have their BRIG_88 10/11/2010 04:42:20 PM
#262 That's ok. stylecounciler 09/20/2010 09:02:10 PM
#261 Because I have a bad memory, mostly. Stock 09/20/2010 08:42:49 PM
#260 So why did you ask? stylecounciler 09/20/2010 08:27:32 PM
#259 No, I never have. Stock 09/20/2010 02:14:14 PM
#258 No. Have you? stylecounciler 09/20/2010 02:00:28 PM
#257 Have you ever been an officer or director Stock 09/14/2010 06:09:53 PM
#256 How i know that PennyStockChaser was on the stylecounciler 09/14/2010 05:57:12 PM
#255 A lot of people might ask how you Stock 09/14/2010 03:53:28 PM
#254 Here's one that got away. stylecounciler 09/14/2010 03:44:16 PM
#253 This one is allegedly from June 1, 2010, Stock 09/08/2010 12:04:20 PM
#252 That's the most recent, last one I could Stock 09/08/2010 12:02:49 PM
#251 Posted by: Generic Stock 09/08/2010 12:01:17 PM
#250 Does anyone have PSC's disclaimer copied before they MetalHead 09/08/2010 11:45:14 AM
#249 Looks like a Caribbean island home. EarnestDD 09/07/2010 09:48:49 PM
#248 really? http://investorshub.advfn.com/boards/read_msg.aspx?message_id=5397167 Stock 09/07/2010 09:06:40 PM
#247 Well... as I said in my last janice shell 08/31/2010 02:12:05 PM
#246 considering dan was pennystockchaser.com not net janice shell 08/31/2010 02:01:45 PM
#245 Just to highlight my error: Stock 08/31/2010 11:37:05 AM
#244 in this case yes but i am sure Sportsjunkie 08/31/2010 09:32:25 AM
#243 I see. So that would be a mistake Stock 08/31/2010 09:30:13 AM
#242 considering dan was pennystockchaser.com not net Sportsjunkie 08/31/2010 09:28:20 AM
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