CaoPanShou De GouPi

[CaoPanShou]

$BBDA: I don't see this one getting current.

SEC Charges Beverage Company and Former CEO with Fraud
Litigation Release No. 24329 / October 31, 2018
Securities and Exchange Commission v. Brian Weber and Bebida Beverage Co., No. 18 Civ. 05019 (DLI) (E.D.N.Y. filed September 5, 2018)
On September 5, 2018, the Securities and Exchange Commission charged Bebida Beverage Co. and its former CEO and President, Brian Weber, with employing a fraudulent scheme to generate cash for his own benefit and to support Bebida's failing business operations.

According to the SEC's complaint, filed in the federal district court for the Eastern District of New York, Weber devised and operated a multi-pronged scheme. He created a fictitious convertible note and then, by deceiving Bebida's transfer agent, had the note converted into common shares that were sold to the public with the proceeds transferred back to Bebida. Weber also used sham transactions to fraudulently inflate the number of outstanding Bebida shares, which he subsequently retired. Weber then issued false press releases touting the retirement of the shares as a buyback, artificially inflating the company's share price. Finally, Weber sold other sham convertible debt and altered the checks that he had received as payment so that he could deposit them into bank accounts that he controlled.