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NPHC Ceo, Rik Deitsch, New Securities Charges

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zino   Sunday, 09/29/19 10:01:16 AM
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NPHC Ceo, Rik Deitsch, New Securities Charges

https://www.otcmarkets.com/stock/NPHC/news/SEC-Litigation-Release?id=205347
Rik Deitsch, issued or posted six press releases that materially misled investors. The releases allegedly implied, among other things, that Nutra Pharma was engaged in international distribution and sales of its product, when it was not, and that Nutra Pharma had upgraded its cobra farm facilities, when Nutra Pharma had no cobras, had no cobra farm, and had never produced cobra venom. Nutra Pharma publicized many of these press releases while Nutra Pharma and Deitsch engaged in an unregistered distribution of its securities to retail investors. In addition, on multiple occasions, Deitsch allegedly engaged in manipulative trading designed to "walk up" Nutra Pharma's stock price and create the appearance of active trading in Nutra Pharma.

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