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Tuesday, January 20, 2015 3:57:07 PM
The SEC sued Joseph A. Noel, founder and CEO of YesDTC, on Monday in Federal Court.
YesDTC "purports to be a direct-to-consumer marketing company specializing in
Internet and retail marketing programs and infomercials," the SEC says in the lawsuit.
It claims he took YesDTC public in 2009 through a reverse merger with a public shell company, "covertly acquired" 40 million shares through a nominee company, then pumped the share price through false press releases, and dumped his own shares for a profit of more than $300,000.
"To conceal his sales, Noel sold the shares through a company he created in his teenage daughter's name without disclosing as required that he was actually selling the shares," the SEC said in a statement.
It seeks disgorgement, penalties and an injunction.
MDHI should be next if there is justice in the world IMO. Joe Noel's involvement here and Ronnie's purchase of the scam Motorbooster should line MDHI up just like YESD
Everything I write is my opinion based on what I read from the companies I post about. Decide for yourself because it's your money.
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