Toxic Funders

[janice shell]

Good job on the IBox! The SEC really is, I think, making some progress in its fight against them. But it's a VERY lucrative business, so they'l do everything they can to find a way to stay in it.

The agency may have more cards up its sleeve, though. If you recall, it brought an administrative proceeding against Samuel Oshana in connection with one of his first companies, IBC Funds, claiming IBC was selling the stock it was issued in 3(a)(10) lawsuits illegally. Oshana himself wasn't named in the action. So he folded IBC and created another company, Rockwell Something. And he made sure to hire a broker-dealer to sell the stock he was issued.

The SEC didn't go after him, but maybe he saw the writing on the wall. I don't think he's brought any 3(a)(10) suits since 2017. And it was in 2017 that the SEC sued Ibrahim Almagarby for acting as an unregistered dealer.

This site isn't very informative, but we do learn he has a nice doggy. Presumably it's his. Though you'd think he could post the photo right side up:

http://www.samueloshana.com