VizConnect Inc (VIZC)

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Remember the "Lionshares fund" ?

SEC Obtains Final Judgments Against Medical Marijuana Industry Company and CEO for Involvement in Fraudulent Scheme:

On January 27, 2017, the federal court in Boston, Massachusetts, entered final judgments against Cannabiz Mobile, a publicly traded company purportedly servicing businesses in the medical marijuana industry, and its sole officer and director, James Gondolfe. Among other things, the judgments order Gondolfe to pay a total of $266,681, and Cannabiz to pay a total of $786,694, and bar Gandolfe from serving as an officer or director of certain public companies or from participating in an offering of a penny stock.

In May 2016, the SEC charged Gondolfe and Cannabiz, both of Cambridge, Massachusetts, along with two other individual defendants and one other company defendant, for their roles in a scheme to defraud investors by concealing the ownership and control of Cannabiz by defendant Christopher Esposito of Topsfield, Massachusetts, in order to enrich themselves by facilitating the sale of hundreds of millions of shares of Cannabiz stock into the public market, in violation of SEC statutes and regulations. According to the SEC's complaint, between early 2014 and August 2015, Esposito, with Anthony Jay Pignatello of Manhattan Beach, California, concealed Esposito's de facto control of Cannabiz and a large percentage of Cannabiz's securities in order to profit by evading SEC Rule 144, which limits securities sales by affiliates, such as control persons. Esposito did this by, among other things, installing Gondolfe, as the sole officer and director of Cannabiz - even though Esposito secretly controlled the company - to make false statements in Cannabiz's public filings and other documents. Gondolfe's actions allowed Esposito to pay third-party stock promoters to tout Cannabiz stock in order to increase its stock price and trading volume, sell significant amounts of Cannabiz convertible debt to others for almost $304,000, and with Pignatello and Renee Galizio of Loxahatchee, Florida, sell millions of shares of Cannabiz stock directly into the public market.

https://www.sec.gov/litigation/litreleases/2017/lr23730.htm

The May 2016 Charges:

https://www.sec.gov/litigation/litreleases/2016/lr23545.htm