Randall Goulding significantly overvalued the fund’s investments in AccessKey, Phyhealth, Spooz Inc., and Tropical. For example, [color=red]Randall Goulding assigned Mercury his personal investment in Spooz in the form of a $58,250 convertible note dated October 27, 2008. Although Spooz defaulted on Randall Goulding’s loan and on a separate agreement with Mercury to transfer 8.5 million shares to the fund, Nutmeg and Randall Goulding valued the convertible note at $64,139.33 – a premium over the face amount of the note – as of March 31, 2009
Read the judgment on page 167 "so ordered Nov 12, 2019." Goulding has been involved in this dirty ticker for over 15 years and there's a mountain of DD on him. Maybe by Spooz defaulting on his toxic note let him sink his hooks in deeper.
Goulding spent 6 months in prison and the SEC published this on December 22, 2022. As I read it he may well have violated the order of the court that said
Specifically, the court enjoined Randall Goulding from buying, selling or trading securities on behalf of an investment adviser or pooled investment vehicle; managing securities investments for, or providing investment advice to, any person or entity, other than himself and immediate relatives, for compensation; and providing consulting, valuation, compliance or other investment-related services to an investment adviser or pooled investment vehicle. https://www.sec.gov/litigation/litreleases/lr-25601
Anyone who thinks misdeeds magically vanish simply because a new CEO drops in is usually disappointed to say the least. Management can change the corporate name every day if they like. FINRA don't play dat.. especially with symbol changes.