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Friday, June 09, 2023 9:29:05 AM
Securities and Exchange Commission v. Auctus Fund Management, LLC, Louis Posner, and Alfred Sollami, No. 1:23-cv-11233-AK (D. Mass. filed June 1, 2023)
Litigation Release No. 25741 / June 1, 2023
https://www.sec.gov/litigation/litreleases/2023/lr25741.htm
The complaint: From at least 2013 through 2021, defendant Auctus Fund Management, LLC
(“Auctus”) and Auctus’s principals Louis Posner (“Posner”), and Alfred Sollami (“Sollami”)
(collectively, “Defendants”) engaged in the business of acquiring shares of stock, predominantly
from penny stock companies, and then selling those shares to investors on the public securities
markets. In this manner, Defendants sold billions of shares to investors and generated tens of
millions in profits. In so doing, the Defendants illegally acted as unregistered securities dealers.
https://www.sec.gov/litigation/complaints/2023/comp25741.pdf
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