Mark R. Basile, Esq.Mark R. Basile, Esq. • 3rd+ • 3rd+ Securities Litigation and Public Company Mergers and Acquisitions Attorney - Former Law ProfessorSecurities Litigation and Public Company Mergers and Acquisitions Attorney - Former Law Professor 8mo • 8mo • Follow
As expected, the U.S. Securities and Exchange Commission filed a lawsuit against hashtag#AUCTUSFUND and their managers for unregistered dealer activity. The complaint alleges that AUCTUS generated in excess of $100 million dollars in gross stock sales, and thats between 2017 and 2021 only. We were the first firm in the country to establish the dealer registration claim in a civil action in Massachusetts federal courts in 2022. In fact, our client hashtag#OrginClear, Inc. $OCLN hashtag#OCLN is mentioned as another victim of this unlawful securities practice. (OriginClear has an appeal pending in the 1st. Circuit Court of Appeals on this issue). While we also believe Auctus' transactions also violate Massachusetts criminal usury statute, we believe this recent enforcement case will result like all the rest - complete cancellation of all securities, convertible notes, etc... held by hashtag#Auctusfund https://www.linkedin.com/posts/markbasile_sec-sues-toxic-lender-auctus-fund-and-its-activity-7070105005705285632-fn1Q/
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