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wow holy shit its a small world this man used to be my step-dad
I wouldn't be too sure. I'll be whoever's behind it is from Canada, and one of them may have worked for APS at some point.
Who'd chose a mail drop in Grandville Michigan out of the blue?
Ok, well I guess it is a different team. Thanks for your time and thoughts.
I just got my "Welcome" message from them, and they do offer an address:
PSC | 2885 Sanford Ave SW #23134
| Grandville, MI 49418
Ain't that interesting. It's the address none other than APS once used:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76983321
hmmm... Note that they're calling themselves PennyStocksChaser. With an "s" after "Stock". The domain was created last September:
http://whois.domaintools.com/pennystockschaser.com
It is, of course, anonymous.
The site looks a bit like APS, but the owner may just be following a successful precedent. I signed up; we'll see what they have to say in the way of a disclaimer. They ought to offer an address, at the very least.
Do you think they are back in business? I just saw this website: http://www.pennystockschaser.com/
Anyone have any SEC info on Raymond Brown ceo of EGOC being connected to Jean Francois Amyot . Dont reply to this sunspotter . . . .
Well I'll be damned! That's VERY much!
I had to add BM#31
I know. But it's a terrible translation. I hope the people in Quebec will put out an official version in English.
Here is the translated text of the AMF's case, Ryan is mentioned prominently, he may not be the subject of a CTO himself though.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65545806&txt2find=ryan
jmo
That case is gonna be interesting.
Dan Ryan got another mention from the AMF, the Quebec securities regulator on WDRP and MRES, among other stocks.
Courtesy of Lexit:
AMF are moving in again ! ORDERS TO CEASE TRADING AND SHUT DOWN WEBSITE
Alleged market manipulation
ORDERS TO CEASE TRADING AND SHUT DOWN WEBSITE
Montréal, July 21, 2011 – At the request of the Autorité des marchés financiers (the “AMF”), the Bureau de décision et de révision (the “Bureau”) issued a decision on July 11, 2011 prohibiting, in particular, any transaction in the securities of Wanderport Corp. and Neuro-Biotech inc., due to alleged
market manipulation.
More specifically, under this decision, Wanderport Corp., 65705442 Canada inc., Conseils Hilbroy inc. and their officers, directors and employees, as well as Jean-François Amyot, Andrea Cortellazzi and Andrew Barakett are prohibited from carrying out transactions in the security of Wanderport Corp.
The Bureau also ordered Neuro-Biotech inc., its officers, directors and employees, as well as Andrea Cortellazzi and Serge Ollu to cease carrying out any transaction in the securities of Neuro-Biotech inc.
In addition, the Bureau ordered IAB Média inc. to shut down the website “itsallbull.net,” which was used to promote the securities of Wanderport Corp. The Bureau’s analysis showed the complexity of this matter. “What we have here is a case of market
manipulation involving numerous individuals. Over the years, their tactic was to promote the securities of some of the corporate respondents in order to pump up the value. They then sold their securities and pocketed the profits generated by the inflated price,” stated the Bureau.
Serge Ollu and Andrea Cortellazzi face, respectively, 33 and 6 counts of illegal practice as a dealer and illegal distribution in the matter of Ressources minières Andréane. Fines of $404,000 and
$56,000 respectively are sought.
The publication of this press release constitutes the method of service authorized by the Bureau of a decision issued on July 11, 2011 pertaining to the following individuals and companies: Andrea Cortellazzi, Xavier Demontigny, Jacques Vallée, Excel Gold Mining inc., 9157-0945 Québec inc., 9198-6208 Québec inc., Proactive Computer Services, Neuro-Biotech inc. and Wanderport Corp. Decision 2009-026-001 is attached to this press release and is also available on the AMF website (in
French only) at www.lautorite.qc.ca/en/news-2011-pro.html under News.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight
http://www.lautorite.qc.ca/files/pdf/salle-de-presse/communiques/2011/com21juillet2011-neuro.pdf
PennystockChaser aka @stockchaser Web Archives $PSC
http://web.archive.org/web/20100102132432/http://pennystockchaser.com/
http://web.archive.org/web/20100102155952/http://pennystockchaser.com/disclaimer/
> SEC shuts down PSC - Penny Stock Chaser
http://investorshub.advfn.com/boards/board.aspx?board_id=18185
-SEC PSR Complaint
http://www.scribd.com/fullscreen/33719372
-SEC Charges Two Canadians With Fraudulently Touting Penny Stocks on a Website, Facebook and Twitter
http://sec.gov/news/press/2010/2010-114.htm
-SEC has obtained an emergency asset freeze against a Canadian couple who fraudulently touted penny stocks
http://sec.gov/litigation/litreleases/2010/lr21580.htm
> Tim SYkes post on PSC
http://www.timothysykes.com/2010/06/pennystockchaser-twitterfacebook-stock-promoters-busted-by-sec-assets-frozen-see-their-pics-photos/
http://www.timothysykes.com/2011/03/the-sec-freezes-this-penny-stock-promoters-assets/
> Interesting that PennystockChaser also was promoting "WDRP" in Feb 2010 and now "IAB Media" also got caught with stock manipulation.
http://www.prlog.org/10535516-wdrp-our-twitter-linek-was-all-over-this-story-sourced-pennystockchasercom.html
http://www.free-press-release.com/news-happy-valentine-s-day-everyone-psc-twitter-is-showing-you-some-love-win-100-shares-of-tiffany-co-sourced-pennystockchaser-com-1266164251.html
> PennyStockRyder connections with PennystockChaser ? taking over @stockchaser - see Ihub post
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53677962
as you can see in the Picture below and on his twitter account the coordinates of PennystockRyder
=> 45.495882,-73.5811221 where is it ? well it's in Montreal :)
$PSC
$SEC
$IAB
( IAB Family Tree ihub board )
Is AURC involved in this?
Dan Ryan and Carol McKeown failed to appear at a preliminary injunction hearing held in Florida on Tuesday, July 6, 2010.
www.stockwatch.com/newsit/newsit_newsit.aspx?bid=Z-C:*SEC-1738477&symbol=*SEC&news_region=C
http://pipes.dealflow.com/wires/article.cfm?title=SEC-Wins-38M-Fines-Against-Canadian-Couple-Stock-Touting&id=vjnipmflcbbrlol
SEC Wins $3.8M in Fines Against Canadian Couple for Stock Touting
Posted February 09, 2011 5:39PM PST
A Canadian couple was ordered to pay nearly $3.8 million in fines for touting about 65 U.S. microcap stocks through a website, Facebook and Twitter and then selling the shares for millions of dollars in profits.
The order was handed down by a federal court in Miami against Carol McKeown, Daniel Ryan and two companies they controlled, Downshire Capital and Meadow Vista Financial Corp.
According to a complaint filed by the Securities and Exchange Commission, Montreal residents McKeown and Ryan received millions of shares of the companies they promoted through Downshire and Meadow Vista as compensation.
The companies touted included Atlantic Wind & Solar, a Toronto-based alternative energy company that obtained a $2.5 million equity line commitment in 2009.
Other companies named in the SEC's complaint were Biocentric Energy Holdings, a green-energy technology company; MSE Enviro-Tech, a developer of fire suppressant technology; Bluewave Group, a multi-media digital distributor; property developer Converge Global Corp.; and oil and gas company Avro Energy.
McKeown and Ryan allegedly sold the shares on the open market while their website PennyStockChaser simultaneously predicted massive price increases, a practice the SEC says is known as scalping.
McKeown and Ryan also failed to tell their readers the full amount of their compensation and the extent of their selling of shares.
The defendants along with Downshire and Meadow Vista were ordered to repay $3.72 million in ill-gotten gains, prejudgment interest of $74,762.81 and a civil penalty to be determined at later.
McKeown and Ryan also were barred from participating in future penny stock offerings.
i noticed that mr. ryan is back in business again...
Hey, just chased ya down...I haven't been active on iFlub at all for months..but do you remember DGRI? Well, the pump is on over there....the company may be moving forward a bit, but boy, the typical irrational exurberance overfloweth.....
the .com one is also through Domains by Proxy, always a good indicator of a scam.
Thanks. I didn't check #msg-53901219 but there you have it.
1. pennystockchaser.com
Created on: 27-Mar-09
2. pennystockchaser.net
Creation Date........ 2009-08-13
This is also true with "Qualitystocks" -- there is a dotcom and a dotnet with different operators (people might be surprised as I was to learn that the dotnet is the copycat)
I'm responding to a post on another board about the creation dates.
Domain Name.......... pennystockchaser.net
Creation Date........ 2009-08-13
Registration Date.... 2009-08-13
Expiry Date.......... 2011-08-13
Organisation Name.... Lightsmedia Inc.
Organisation Address. PO Box 61359
Organisation Address.
Organisation Address. Sunnyvale
Organisation Address. 94088
Organisation Address. CA
Organisation Address. US
PENNYSTOCKCHASER.COM
DomainsByProxy.com
15111 N. Hayden Rd., Ste 160, PMB 353
Scottsdale, Arizona 85260
United States
Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)
Domain Name: PENNYSTOCKCHASER.COM
Created on: 27-Mar-09
Many thanks! Yes, I've seen the remnants of the First in Awareness site.
Maybe I can turn up more at Web Archive...
Sorry if this is off-topic here.
Janice asked this question on a board from which I'm banned, and I can't respond on any other board limited to Premium members of IHUB:
What was the name of the company, and what was the means of payment?
Does anyone know when PSC will have their site back up and running?....thanks
That's ok.
Mine operates like a steel trap.
Because I have a bad memory, mostly.
So why did you ask?
http://advancedtrading.com/regulations/showArticle.jhtml;jsessionid=0NNJP40VVXGV1QE1GHRSKHWATMY32JVN?articleID=225701953&_requestid=24210
On a second note... Twitter... Facebook...
Front running for themselves.... insiders... and serious players....
Tell us if you can...., and noting who's name appears on the bottom of the PenntStockChaser/DGRI.PK blurb,...
who..... where.... when... did PennyStockChaser come across ONE MILLION shares fronted by one of the notorious "Third Party" people?
http://www.thepennystockpicks.com/dgri-is-pretty-hot-and-tempting-the-potential-here-for-this-junior-miner-is-hard-to-pass-up-even-for-us/
PennyStockChaser Disclaimer. DGRI.PK
PENNYSTOCKCHASER AFFILIATES MAY FROM TIME TO TIME HAVE A POSITION IN THE SECURITIES MENTIONED HEREIN AND MAY INCREASE OR DECREASE WITHOUT NOTICE.
PENNYSTOCKCHASER HAS RECEIVED ONE MILLION FREE TRADING SHARES FROM A THIRD PARTY FOR THE PROFILE OF DGRI FOR ONE MONTH.
No, I never have.
No.
Have you?
Dutch Gold - DGRI.PK. Penny Stock Chaser.
http://www.thepennystockpicks.com/dgri-is-pretty-hot-and-tempting-the-potential-here-for-this-junior-miner-is-hard-to-pass-up-even-for-us/
Have you ever been an officer or director of a public company?
How i know that PennyStockChaser was on the DGRI.PK pump and dump tip?
Lets see how long this link lasts.
Hot. And. Tempting.
http://www.thepennystockpicks.com/dgri-is-pretty-hot-and-tempting-the-potential-here-for-this-junior-miner-is-hard-to-pass-up-even-for-us/
A lot of people might ask how you know this.
I'm not among them.
I already have A Good Idea.
Here's one that got away.
This one is allegedly from June 1, 2010, before the web site was shut down. However, I have seen some re-posted on iHub that were not posted more than once on the site (they were possibly altered).
RE: Archive.org -- there is nomally a 6 month delay.
PennyStockChaser.com has been compensated by the following companies for their profile:
SOCI: 700,000 shares free trading by Third Party
PPTO: 1,000,000 shares free trading by Third Party
HYGN: 13, 000, 000 shares free trading by Third Party
CVRG: 7,000,000 shares free trading by Third Party
USCN: 400, 000 shares free trading by Third Party
UPTR: $100,000 by Third Party for Two Weeks
ILVC: 921,000 shares free trading by Third Party
CGAQ: 1,000.000 shares free trading by Third Party
CTHP: $100,000 by Third Party for Two Weeks
TAMO:$50,000 by Third Party for One Week
QURI: 5,000,000 shares free trading by Third Party
XYNH: 30,000,000 shares free trading by Third Party
EVRN: 4,500,000 shares free trading by Third Party
BEHL: 50,000,000 shares free trading by Third Party
C35: 5,000,000 shares free trading by Third Party
MTRO: 250,000 shares free trading by Third Party
COYN: 500,000 shares free trading by Third Party
DUTV:1,200,000 shares free trading by Third Party
NVSR:3,000,000 shares free trading by Third Party
HRRN:20,000,000 shares free trading by Third Party
AWSL:140,000 shares free trading by Third Party
AVOE: 500,000 shares free trading by Third Party
ZENG: 3,000,000 shares free trading by Third Party
BLVI: $50,000 by Third Party for One Day
OPSY: 2,800,000 shares free trading by Third Party
XCEL: $150,000 by Third Party for One Month
STZU: 500,000 shares free trading by Third Party
IFUS: 5,000,000 shares free trading by Third Party
TTEG: 400, 000 shares free Trading by Third Party
MHYS: 500,000 shares free trading by Third Party
NGHI: $100,000 by Third Party for Two Days
BLVI: 2,000, 000 shares free Trading by Third Party
EGOH: 350, 000 shares free Trading by Third Party
MRIB: 1,000,000 shares free Trading by Third Party
VRED: 20,000,000 shares free Trading by Third Party
APDN: 800,000 shares free Trading by Third Party
MDGC: $150,000 by Third Party for One Month
WDAS: $80,000 by Third Party for One Month
OPXS: 300, 000 shares free Trading by Third Party
PLMO: 350, 000 shares free Trading by Third Party
MEVT: 350, 000 shares free Trading by Third Party
LWSP: 375, 000 shares free Trading by Third Party
HDUP: 550, 000 shares free Trading by Third Party
PNTV: $50,000 by Third Party for One Week
RGTX: 500, 000 shares free Trading by Third Party
BRYN: 1,000,000 shares free Trading by Third Party
DRGZ: $75,000 by Third Party for One Week
LUXE: $75,000 by Third Party for One Week
CLNP: 500,000 shares free Trading by Third Party
VGPR: 6,000,000 shares free Trading by Third Party
DOLV: $80,000 by Third Party for One Week
VGPR: 19,000,000 shares free Trading by Third Party
KNDR: 2,000,000 shares free Trading by Third Party
PGCX: 250, 000 shares free Trading by Third Party
UTRM: 500, 000 shares free Trading by Third Party
EVII: $75,000 by Third Party for Two Weeks
BOCL: $75,000 by Third Party for Two Weeks
ENTK: 400, 000 shares free Trading by Third Party
PMAH: 200, 000 shares free Trading by Third Party
HRAL: 2, 500, 000 shares free Trading by Third Party
WBRE: $75,000 by Third Party for One Week
HSCO: 380, 000 shares free Trading by Third Party
RVBF: $50,000 by Third Party for One Week
ALTO: 400, 000 shares free Trading by Third Party
AGCZ: 400, 000 shares free Trading by Third Party
GDHI: 100, 000, 000 shares free Trading by Third Party
MXGD: 1, 000, 000 shares free Trading by Third Party
BYSD: 200, 000 shares free Trading by Third Party
DGRI: 1,000, 000 shares free Trading by Third Party
EXPU: 2,000, 000 shares free Trading by Third Party
HYII: 8,000, 000 shares free Trading by Third Party
MYSL: 300, 000 shares free Trading by Third Party
WDRP: 10,000, 000 shares free Trading by Third Party
AMCG: $400, 000 by Third Party for One Month
PPII: 400, 000 shares free Trading by Third Party
IKTO: 300, 000 shares free Trading by Third Party
SMLK: 600, 000 shares free Trading by Third Party
BONZ: $50, 000 by Third Party for One Day
EVPH: 500, 000 shares free Trading by Third Party
WMBI: 1,100, 000 shares free Trading by Third Party
FVSTA: 1,400,000 shares free trading by Third Party
LHPT:15,000,000 shares free trading by Third Party
CCGC: 1,500,000 shares free trading by Third Party
BLEW: Purchased $100,000 of stock through Third Party Investor
VIVK: 1,7 000,000 shares free trading by Third Party
ZLUS: 80, 000,000 shares free trading by Third Party
SWRS: 6, 000,000 shares free trading by Third Party
SNRS: 200,000,000 shares free trading by Third Party
SHMN: 1,000,000 shares free trading by Third Party
That's the most recent, last one I could find posted on iHub.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51869075
Posted by: Generic
Date: Friday, July 09, 2010 9:26:17 AM
In reply to: N4longterm
#msg-52109679
from pennystockchaser.com/disclaimer/
"PennyStockChaser.com has been compensated by the following companies for their profile:
SOCI: 700,000 shares free trading by Third Party
PPTO: 1,000,000 shares free trading by Third Party
HYGN: 13, 000, 000 shares free trading by Third Party
CVRG: 7,000,000 shares free trading by Third Party
USCN: 400, 000 shares free trading by Third Party
UPTR: $100,000 by Third Party for Two Weeks
ILVC: 921,000 shares free trading by Third Party
CGAQ: 1,000.000 shares free trading by Third Party
CTHP: $100,000 by Third Party for Two Weeks
TAMO:$50,000 by Third Party for One Week
QURI: 5,000,000 shares free trading by Third Party
XYNH: 30,000,000 shares free trading by Third Party
EVRN: 4,500,000 shares free trading by Third Party
BEHL: 50,000,000 shares free trading by Third Party
C35: 5,000,000 shares free trading by Third Party
MTRO: 250,000 shares free trading by Third Party
COYN: 500,000 shares free trading by Third Party
DUTV:1,200,000 shares free trading by Third Party
NVSR:3,000,000 shares free trading by Third Party
HRRN:20,000,000 shares free trading by Third Party
AWSL:140,000 shares free trading by Third Party
AVOE: 500,000 shares free trading by Third Party
ZENG: 3,000,000 shares free trading by Third Party
BLVI: $50,000 by Third Party for One Day
OPSY: 2,800,000 shares free trading by Third Party
XCEL: $150,000 by Third Party for One Month
STZU: 500,000 shares free trading by Third Party
IFUS: 5,000,000 shares free trading by Third Party
TTEG: 400, 000 shares free Trading by Third Party
MHYS: 500,000 shares free trading by Third Party
NGHI: $100,000 by Third Party for Two Days
BLVI: 2,000, 000 shares free Trading by Third Party
EGOH: 350, 000 shares free Trading by Third Party
MRIB: 1,000,000 shares free Trading by Third Party
VRED: 20,000,000 shares free Trading by Third Party
APDN: 800,000 shares free Trading by Third Party
MDGC: $150,000 by Third Party for One Month
WDAS: $80,000 by Third Party for One Month
OPXS: 300, 000 shares free Trading by Third Party
PLMO: 350, 000 shares free Trading by Third Party
MEVT: 350, 000 shares free Trading by Third Party
LWSP: 375, 000 shares free Trading by Third Party
HDUP: 550, 000 shares free Trading by Third Party
PNTV: $50,000 by Third Party for One Week
RGTX: 500, 000 shares free Trading by Third Party
BRYN: 1,000,000 shares free Trading by Third Party
DRGZ: $75,000 by Third Party for One Week
LUXE: $75,000 by Third Party for One Week
CLNP: 500,000 shares free Trading by Third Party
VGPR: 6,000,000 shares free Trading by Third Party
DOLV: $80,000 by Third Party for One Week
VGPR: 19,000,000 shares free Trading by Third Party
KNDR: 2,000,000 shares free Trading by Third Party
PGCX: 250, 000 shares free Trading by Third Party
UTRM: 500, 000 shares free Trading by Third Party
EVII: $75,000 by Third Party for Two Weeks
BOCL: $75,000 by Third Party for Two Weeks
ENTK: 400, 000 shares free Trading by Third Party
PMAH: 200, 000 shares free Trading by Third Party
HRAL: 2, 500, 000 shares free Trading by Third Party
WBRE: $75,000 by Third Party for One Week
HSCO: 380, 000 shares free Trading by Third Party
RVBF: $50,000 by Third Party for One Week
ALTO: 400, 000 shares free Trading by Third Party
AGCZ: 400, 000 shares free Trading by Third Party
GDHI: 100, 000, 000 shares free Trading by Third Party
MXGD: 1, 000, 000 shares free Trading by Third Party
BYSD: 200, 000 shares free Trading by Third Party
DGRI: 1,000, 000 shares free Trading by Third Party
EXPU: 2,000, 000 shares free Trading by Third Party
HYII: 8,000, 000 shares free Trading by Third Party
MYSL: 300, 000 shares free Trading by Third Party
WDRP: 10,000, 000 shares free Trading by Third Party
AMCG: $400, 000 by Third Party for One Month
PPII: 400, 000 shares free Trading by Third Party
IKTO: 300, 000 shares free Trading by Third Party
SMLK: 600, 000 shares free Trading by Third Party
BONZ: $50, 000 by Third Party for One Day
EVPH: 500, 000 shares free Trading by Third Party
WMBI: 1,100, 000 shares free Trading by Third Party
FVSTA: 1,400,000 shares free trading by Third Party
LHPT:15,000,000 shares free trading by Third Party
CCGC: 1,500,000 shares free trading by Third Party
BLEW: Purchased $100,000 of stock through Third Party Investor
VIVK: 1,7 000,000 shares free trading by Third Party
ZLUS: 80, 000,000 shares free trading by Third Party
SWRS: 6, 000,000 shares free trading by Third Party"
Does anyone have PSC's disclaimer copied before they got shut down? I tried to look on http://www.archive.org/ but it isn't showing up.
Looks like a Caribbean island home.
jmo
really?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53971679&txt2find=psc
Posted by: BEIJING BILL
Date: Wednesday, September 01, 2010 7:16:20 PM
In reply to: joel0111 who wrote msg# 76595 Post # of 76705
DANO from psc building home: picture.
Well... as I said in my last post, sorting it all out isn't easy.
considering dan was pennystockchaser.com not net
Is it possible that at one time he owned both domains? The .com domain was created before the .net domain, but both were already active in 2009. If you type in the .net URL now, you'll be redirected to Pennystockryder.com. That domain is registered to Contractprivacy.com in Toronto. It was created on 12 August 2010.
http://www.networksolutions.com/whois-search/pennystockryder.com
Now go to the site:
http://www.pennystockryder.com/
Some of the compensation disclosed is from as early as February of this year. Evidently it was pennystockchaser.net before that. Pennystockchaser.net was originally registered by Melbourne IT, LTD., d/b/a Internet Names Worldwide, on 12 August 2009 (exactly a year before the Pennystockryder site was created.
http://www.networksolutions.com/whois/registry-data.jsp?domain=pennystockchaser.net
Now...if you go to stockpromoters.com and look up promotions run by Penny Stock Chaser, you'll find among them only one of the companies promoted by Penny Stock Ryder/Chaser.net earlier this year: BLEW.
Altogether mysterious. But there's an easy solution to the problem: regulators need to find a way to require promoters to attach their own names to their companies. The level of anonymity they enjoy is not a Good Thing.
Just to highlight my error:
Pennystockchaser.com
and
Pennystockchaser.net
are quite likely operated by different organizations.
They both use anonymous domain registrars, so it's not super easy to tell by looking right at the WHOIS.
IAB Media might have seen the following Pennystockchaser.COM had, and registered the .net domain.
I didn't check the dates. But if the .net follows the .com, that would make sense.
in this case yes but i am sure dan is still in the game considering he originally use to put private companies into
shells and do reverse mergers,i am sure he is behind the scenes doing something....
I see. So that would be a mistake on my part then, wouldn't it?
considering dan was pennystockchaser.com not net
http://www.youtube.com/user/Pennystockchaser
IAB Media, Inc.
Web:
http://www.hilbroyadvisory.com
Address:
1400 Begin
Montreal, Quebec H4R 1X1
Canada
Language:
English
Member Since:
Nov 4, 2009
Last Published:
May 26, 2010
IAB Media, Inc.
http://community.icontact.com/p/hilbroy
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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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