Plastic2Oil Inc (PTOI)

[DZ25]

I apologize, what was the term utilized here for the SEC attorneys? Looks like that individual was, wait for it... WRONG AGAIN!!

" Husain and Jaclin filed misleading quarterly and annual reports once a company became registered publicly, providing much of the same false information depicted in the registration statements.
Husain obtained about $2.25 million in total proceeds when the empty shell companies were sold, and Jaclin and his firm received nearly $225,000 for their legal services.

The SEC’s complaint charges Husain and Jaclin with violating or aiding and abetting violations of the antifraud, reporting, and securities registration provisions of the federal securities laws. The SEC seeks disgorgement of ill-gotten gains plus interest and penalties, permanent injunctions, and penny stock bars. The SEC also seeks an officer-and-director bar against Husain.

The SEC’s investigation was conducted by Roberto A. Tercero and Spencer E. Bendell as part of the Microcap Fraud Task Force. The litigation will be led by Amy J. Longo and supervised by John Berry. The SEC appreciates the assistance of the FBI and the U.S. Attorney’s Office for the Northern District of California."