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Wednesday, November 07, 2018 3:55:34 PM
The Securities and Exchange Commission today announced charges against a Wheaton, Illinois-based securities lawyer and his law firm for their roles in a fraudulent scheme to conceal the identity of a company's principal control person, a convicted felon who had been previously incarcerated for securities fraud.
According to the SEC's complaint filed in the U.S. District Court for the Northern District of Georgia, Adam Tracy and his law firm, Securities Compliance Group, Ltd., were retained by a convicted felon and his company, Sonant Communications Corp., to file a registration statement with the SEC for an initial public offering of 10 million shares of common stock. The SEC alleges, however, that the felon asked Tracy to conceal his role with the company such that his involvement would be hidden from the SEC and the investing public. As alleged in the complaint, Tracy agreed to participate in the ruse by drafting and filing with the SEC two registration statements that omitted the felon's name, and, instead, named others, without their knowledge or consent, as being the principal officers and control persons of Sonant.
I think you're a bit off on that. The reason Adam did what he did is because he could not get two years of financials from a company that was abandoned by its board members and CEO. I believe that's what this long 2 year wait has been. They have all their documentation the past two years now. I believe they will reinstate soon and that was the plan all along. There are reasons for things to be done certain ways in business and you can't always control the amount of time it takes to do them .
Here’s more ....https://www.securitieslawyer101.com/2016/adam-tracy-attorney-custodianship-shell-companies/
So no thanks, not falling for any of that fantasyland nonsense.
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