November 2014 Archives - Going Public Lawyers

The SEC Pursues Shell Packer, Joseph Meuse – Again

Securities Law Blog On November 25, 2014, the Securities & Exchange Commission (“SEC”) announced administrative proceedings against Joseph Meuse pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”).  According to the SEC, from April… Read More

Feds to Auction Silk Road Bitcoins Belonging to Ross William Ulbricht

Last week, the US Marshals Service announced that it will hold an auction on December 4, to sell 50,000 bitcoins that belong to Ross William Ulbricht.  Ulbricht is alleged to have operated the first Silk Road website that was… Read More

Trends in Bitcoin Regulation

              Securities Law Blog On October 27, 2014, FinCEN issued two administrative rulings to companies seeking guidance on whether a company would be required to register as an MSD as defined under… Read More

SEC Charges Forum National Investments Executives and Promoters in Pump and Dump Scheme

On November 18, 2014, the Securities and Exchange Commission (“SEC”) charged Forum National Investments Ltd. (“FMNL”), a Canadian life settlement company, its CEO, and several associates with fraud committed in connection with a pump and dump scheme that… Read More

SEC Censures For Selling To US Investors

Securities Law Blog On November 12, 2014, the Securities and Exchange Commission (the “SEC”) censured, a Cayman Islands-based crowdfunding website for its failure to implement procedures “reasonably designed” to prevent U.S. investors from using its funding portal… Read More

SEC Suspends Trading in Ebola Tickers

The Securities and Exchange Commission (the “SEC”) suspended trading in four companies that claim to be developing products or services in response to the Ebola outbreak, citing a lack of publicly available information about the companies’ operations. The SEC… Read More

Cytta Corp Announces Corporate Hijacking

Securities Lawyer 101 Blog On November 5, 2014, Cytta Corp., a (CYTA), filed a report on Form 8-K reflecting that it had been the victim of a corporate hijacking.  According to its Form 8-K, Cytta learned that unauthorized persons… Read More

SEC Charges Eric Van Nguyen, Jay Fung and Anthony Thompson

On November 17, 2014, the Securities and Exchange Commission (the “SEC”) charged three penny stock promoters with conducting pump-and-dump schemes involving stocks they were touting in purported independent newsletters.  The SEC alleges that Anthony Thompson, Jay Fung, and… Read More

Joseph Noel Charged In Stock Scalping Scheme

Securities Lawyer 101 Blog On November 17, 2014, the Securities and Exchange Commission (the “SEC”) charged Joseph Noel, the Chief Executive Officer of YesDTC Holdings, a San Francisco-based penny stock company.  Noel is charged with defrauding investors by… Read More

Offshore Crowdfunding Portals Are Not Shielded From Liability Under U.S. Securities Laws

The SEC’s recent Cease and Desist order against  Eureeca Capital demonstrates that we may begin to see enforcement activity involving offshore crowdfunding portals soliciting investments from U.S. investors.  In Eureeca, its website claimed, “Eureeca is the first global… Read More