Shell company hijack: Men used SEC filings, fake press releases for stock pump-and-dump scam, feds say PUBLISHED FRI, JUN 18 20214:12 PM EDTUPDATED FRI, JUN 18 20215:08 PM EDT Dan Mangan @_DANMANGAN Three men were indicted in a scheme to “surreptitiously hijack” four dormant shell companies, whose stock they then fraudulently inflated to dump to unwitting investors. The men allegedly used fake resignation letters to seize control of the companies, and then used the SEC’s EDGAR public filing system and bogus press releases to fraudulently “pump up” their share prices on the over-the-counter market. Mark Allen Miller, Christopher James Rajkaran and Saeid Jaberian are charged with securities fraud, conspiracy to commit securities fraud and wire fraud.
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