New World Gold Corporation (NWGC)

[TQP]

This is going to get ugly fast. The same type of activity that went on with Andes Gold Corporation is happening here. All one has to do is look at the filings and line up the press releases. They are pretty much the same. Last one here please remember to turn out the lights.

MONTRÉAL, Sept. 9, 2014 /CNW Telbec/ - The Autorité des marchés financiers ("AMF") has launched a joint penal proceeding against 13 defendants (11 individuals and 2 companies) allegedly involved in market manipulation activities that took place between 2008 and 2012 in violation of the Securities Act.

The scam

The defendants took part in a "pump and dump" scam, in which they influenced the market price or the value of microcap securities listed on U.S. over-the-counter markets, including the shares of Spencer Pharmaceutical Inc., Energy 1 Corp., Andes Gold Corporation, Kender Energy Inc. and Wanderport Corporation.

The manipulation methods consisted of promoting the activities or growth potential of the above-mentioned companies via the publication of false and misleading information in press releases, on social media and other on-line channels.

Some of the scammers bet on the ensuing market activity to boost the share value of the target companies before selling their own shares at a hefty profit. The investigation shows that transaction proceeds related to certain violations referred to in the proceedings amount to a total of over $10 million.

http://www.newswire.ca/fr/story/1408648/amf-launches-penal-proceeding-targeting-market-manipulation-activities