Some companies use false press releases. According to the SEC, Penny King Holdings Inc. owner Gabor S. Acs deceived investors with misleading releases and Web sites in 2002. The government also said he failed to acknowledge payments from two penny stock companies in exchange for his promotional services. In May, the SEC ordered Acs to make payments totaling nearly $643,000.
Acs could not be reached for comment; no phone number could be located for him.