I previously wrote about how the SEC sued Jerry S. Williams aka Monk from Monk’s Den on InvestorsHub. I also wrote about how even if Jerry Williams hadn’t been scalping his followers (selling when he said he was buying) his ‘float lock-down’ schemes were illegal.
Well, the SEC won a judgment (filed February 12th) against Williams to the tune of $2,357,208 in disgorgement of illicit profits, $188,766 in interest, and $2,357,208 in civil penalties. It is nice to see the good guys win once in awhile and with a judgment of twice his illicit profits.
The Securities and Exchange Commission announced today that on February 12, 2014, a Connecticut federal court entered judgments against a former Connecticut-based stock promoter, Jerry S. Williams, and two companies that he controlled, Monk’s Den, LLC and First In Awareness, LLC, who are defendants in a Commission enforcement action filed in 2012 alleging that they operated a fraudulent Internet-based stock touting and scalping scheme. The judgments order the defendants to pay a total of over $9.6 million.
Credit goes to Scion for finding and posting the judgment first.