Followers | 61 |
Posts | 13510 |
Boards Moderated | 2 |
Alias Born | 01/13/2011 |
Thursday, August 23, 2012 9:41:17 AM
Litigation Release No. 22452 / August 17, 2012
Securities and Exchange Commission v. Yossef Kahlon, et al. , Civil Action No. 4:12-CV-517 (E.D. Tex.)
SEC Sues New York Penny Stock Distributor
The Commission announced today that on Aug. 14, 2012, it sued Jossef Kahlon, a/k/a/ Yossef Kahlon and TJ Management Group, LLC, of New York, New York, for selling the stock of several penny stock issuers into the public market in violation of the registration provisions of the federal securities laws.
According to the complaint, Kahlon and TJ Management Group, LLC abused and misused a federal securities law to buy hundreds of millions of shares of stock at steep discounts and to quickly resell all of the shares to the public at market rates, generating at least $7.7 million in profit. The SEC alleges that this conduct deprived investors of important business information to which they were legally entitled for at least the following issuers: My Vintage Baby, Inc., Lecere, Corporation, Landstar, Inc., Hard to Treat Disease, Inc., Good Life China Corporation, VIPR Industries, Inc., ChromoCure, Inc., Atlantis Internet Group Corp, Biocentric Energy Holdings, Inc., Skybridge Technology Group, Inc., and RMD Entertainment Group, Inc.
The SEC alleges that, by these activities, Kahlon and TJ Management Group, LLC violated Section 5 of the Securities Act of 1933. The Commission is seeking permanent injunctions, civil penalties, penny stock bars and disgorgement of ill-gotten gains.
SEC Complaint:
http://www.sec.gov/litigation/complaints/2012/comp22452.pdf
All posts are my own opinion and should not be construed as a suggestion to anyone. Trade at your own risk, and I'll trade at mine. Have a great day!!
FEATURED NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM