I am a little slow to post this — these two separate cases were publicized last week. This looks like one more nail in the coffin of the biggest stock promotion scams. I have done little besides collect links to the best stories about the two different cases.
Titan Securities / IPC Corporate Securities / Legacy Global Markets / Robert Bandfield / Andrew Godfrey / Kelvin Leach / Rohn Knowles / Brian de Wit / Cem Can (Jim Can)
Jay Fung / Eric Van Nguyen / Anthony Thompson / Hanna Schmeider / Kenneth Oxsalida / Joseph Dervali / Luz Rodriguez / Chrospher Balseiro
The first three names above should be familiar to long-time readers of this blog. Fung and Thompson were previously sued by the SEC back in May of 2012. Eric Van Nguyen worked with those two and had not been indicted or sued by the SEC. Eric also worked with John Babikian at least at first with the Awesomepennystocks websites (despite his claims to the contrary).
One interesting tidbit from the Bloomberg article:
Many of the eight people whose indictment was announced today had never met each other and their only connection is that they had all worked with Sepe, Fritz said.
That leads me to believe that Sepe informed on the others. It will be interesting to see if that is the case.
Follow this case on New York’s court system website.