Attorney Andrew Coldicutt faces SEC charges after getting caught in an FBI sting
On March 1, 2022, t
During the earlier meetings, Coldicutt allegedly described to the fund managers how they could create the façade of a bona fide business, take it public, and obtain quotation clearance for its stock to trade on the over-the-counter market. He further offered to provide the fund managers with information about stock promoters and suggested several ways to avoid regulatory scrutiny when creating a public shell company, including selecting an auditing firm with previous experience conducting audits for shell companies.
Coldicutt also allegedly suggested finding 25 to 30 investors that were “friendly” with the fund managers so that they would hold or trade the stock as the fund managers chose and recommended pivoting the shell into the cannabis business after going public before running the stock promotion campaign.
The latest run-in with the regulators follows a long history of run-ins by not just Andrew Coldicutt but also his parents, Thomas D Coldicutt and Elizabeth L Coldicutt, who were both charged by the SEC in 2012 for secretly funding and controlling shares in shells that were used for pump & dumps (a shell scheme). The couple was ordered to pay millions in fines to the SEC, but in 2019, Thomas Coldicutt filed for bankruptcy, still owing the SEC more than $4.9 million.
Thomas and Elizabeth were also charged with stock manipulation in 1992 during their time with San Diego brokerage firm Burnett Grey.
Andrew Coldicutt spent 2 years working for the Carrillo Huettel law firm before branching off on his own after Luis Carrillo and Wade Huettel were named an SEC action in 2013.
After leaving the Carrillo Huettel law firm, Coldicutt did legal work for dozens of companies which ended up being used for pump & dump schemes. Then in 2017, the actions of one of those companies brought the SEC to Coldicutt’s doorstep. The SEC was forced to file a subpoena enforcement action against Coldicutt when he refused to cooperate with the SEC’s requests as part of an investigation into Green Cures & Botanical Distribution Inc (GRCU).
It took two subpoena enforcement actions and pressure from the court before Coldicutt finally complied in August of 2018.
The SEC investigation and records provided by Coldicutt eventually led to an SEC Complaint being filed against four GRCU insiders – David N. Osegueda, Ishmail Calvin Ross, aka Calvin Ross, Zachary R. Logan, and Jessica Snyder, fka Jessica Gutierrez on May 20, 2019.
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