phone numbers of SEC office handling this in case anyone wants to contact them for any reason.
........al
SEC v. Alex Kanakaris, et al.
Alex Kanakaris, of Newport Beach, Calif., and Richard Epstein, of Parkland, Fla., are stock promoters who are significant investors in the stock of SwedishVegas, Inc., headquartered in Arcadia, Calif., whose stated business plan is to "launch a series of themed eateries with an extensive beer and wine menu and reasonably priced lunches, dinners and appetizers." Until July 23, 2008, when the Commission suspended trading in its stock, SwedishVegas common stock was quoted on an inter-dealer electronic quotation and trading system in the over-the-counter securities market which is operated by Pink OTC Markets, Inc., commonly known as the "Pink Sheets."
The Commission's complaint alleges that, from at least June through July 2008, Kanakaris and Epstein engaged in a fraudulent scheme to manipulate the market for the common stock of SwedishVegas. Specifically, the defendants paid a kickback to Rodriguez, a corrupt stock promoter, and the CW, whom they believed had connections to corrupt stockbrokers, to buy Swedish Vegas stock in an effort to create the appearance of market interest, induce public purchases of stock, and ultimately increase the stock's trading price. At one point, Kanakaris told Rodriguez and the CW that he wanted them to buy as much stock as possible in order to make the stock price "fly."
The complaint further alleges that, in accordance with their scheme, Kanakaris and Epstein paid at least $15,000 to Rodriguez and the CW in exchange for completed purchases of at least 125,000 shares of SwedishVegas stock on July 22, 2008. After this initial stock purchase, actually made with FBI funds, the Commission suspended trading in the stock.
The complaint alleges violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. The complaint seeks permanent injunctions, disgorgement of ill-gotten gains, together with prejudgment interest, civil penalties, and penny stock bars from the defendants.
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The Commission acknowledges the assistance and cooperation of the U.S. Attorney's Office for the Eastern District of Pennsylvania and the Federal Bureau of Investigation (FBI).
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For more information, contact:
Daniel M. Hawke, Regional Director
Elaine C. Greenberg, Associate Regional Director
David S. Horowitz, Assistant Regional Director
SEC's Philadelphia Regional Office
215-597-3100
I may not agree with what you say, but have fought and will continue to fight for your right to say it. USArmy 1966-1975
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