SEC Charges Eleven in Stock Manipulation Ring

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http://sec.gov/news/press/2009/2009-117.htm

SEC Charges Eight Participants in Penny Stock Manipulation Ring
FOR IMMEDIATE RELEASE
2009-117

Washington, D.C., May 21, 2009 — The Securities and Exchange Commission has charged eight participants in a penny stock manipulation ring that allegedly pumped the market prices of at least four stocks and generated more than $6.2 million in illicit profits when they dumped shares on the market.
Additional Materials

* Litigation Release No. 21053
* SEC Complaint

The SEC alleges that Pawel Dynkowski, who resided in Newark, Del., carried out the market manipulation schemes with others he met through a penny stock web site InvestorsHub.com, which is operated by Matthew Brown of Aliso Viejo, Calif.