Law360 (Aug 13, 2021, 9:10 p.m. EDT) – The Securities and Exchange Commission on Friday met a hemp products maker and network of securities dealers and advisers with a securities fraud lawsuit alleging they were on a penny stock scalping program that generated $ 11 million in illegal profits.
GPL Ventures LLC, GPL Management LLC and their co-owners – Alexander Dillon and Cosmin Panait – allegedly violated securities laws by buying and then publicly selling blocks of shares in HempAmericana and other penny stocks as unregistered traders, the SEC said in the filed complaint with the southern borough of New York.
“None of the GPL defendants …
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