The Commission temporarily suspended trading in the securities of the above-listed issuers because of questions regarding the adequacy and accuracy of information about the companies, including their assets, business operations, current financial condition and/or issuances of shares in company stock.
KKUR, VIPR: SEC CHARGES ATTORNEY AND CLIENTS IN SCHEME TO UNLAWFULLY SELL BILLIONS OF PENNY-STOCK SHARES
On April 30, 2012, the Securities and Exchange Commission charged a mother-and-daughter pair and their attorney with a scheme to unlawfully acquire and sell billions of shares of penny stock that were never registered for sale to the public.
The SEC charged Florida attorney Cameron H. Linton, Esq., his clients, Christel S. Scucci and her mother Karen S. Beach, and their companies, Protégé Enterprises, LLC, and Capital Edge Enterprises, LLC with a scheme to unlawfully sell large quantities of stock in violation of Section 5 of the Securities Act of 1933, which generally requires that securities transactions be registered with the SEC, unless exempt.