wannabeeriche
4週前
From at least June 2017 to June 2022, Defendants—led by Philip Verges—perpetrated a scheme to pump and dump into the market more than $112 million of stock in certain penny stock companies. Verges designed the scheme so that Blue Citi (owned by R. Malin and L. Tilton (in his individual capacity), JDT (owned by Tilton), and other accomplices that Verges nominated (the “Other Nominees”; collectively with Blue Citi, Tilton, and JDT, the “Nominees”) received heavily discounted shares in five penny stock companies: Alternet Systems, Inc. (“ALYI”), Priority Aviation, Inc. (“PJET”), Puration, Inc. (“PURA”), Vaycaychella, Inc. (“VAYK”), and WaterPure International, Inc. (“WPUR”) (collectively, the “PSCs” and individually, a “PSC”). The Nominees ultimately received at least 5.2 billion shares of stock in the PSCs at an 86.64% discount and then proceeded to dump those shares into the market. Blue Citi, Tilton, and JDT alone generated more than $52 million in trading proceeds.
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION Case No.: 3:23:cv-02146
janice shell
3月前
Durland is quite well known for his involvement in the Pegasus scam. That was years ago, but it was a gigantic embarrassment for the Nasdaq. They did NO vetting at all of Jay Knabb when they listed Pegasus.
And a LOT of journalists and ordinary people knew about his earlier scam, and wasted no tie letting the Nasdaq know. The stock was delisted in record time. But it took the SEC years to get around to making a case against them:
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-21060
The predecessor company was called "OTC Wireless", and Knabb had worked for it briefly, but memorably, in 2002. The whole thing was a complete mess. See the complaint:
https://www.sec.gov/files/litigation/complaints/2009/comp21060.pdf
janice shell
3月前
Nope. Not good at all...
Stephen Durland
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26075 / August 13, 2024
Securities and Exchange Commission v. Stephen Durland, No. 3:24-cv-02062 (N.D. Tex. filed Aug. 13, 2024)
SEC Charges Former New York CPA in Penny-Stock Fraud Scheme
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26075
The Securities and Exchange Commission today filed a complaint against North Carolina resident Stephen Durland, formerly a certified public accountant licensed in New York, for his role in an alleged $112 million pump-and-dump scheme orchestrated by Texas resident Philip Verges. The Commission previously filed charges against Verges and others on September 26, 2023, for their roles in the alleged scheme.
The Complaint:
https://www.sec.gov/files/litigation/complaints/2024/comp26075.pdf
The penny companies were Alternet Systems (ALYI), Priority Aviation (PJET), and Vaycaychella, Inc. (VAYK).
BottomBounce
2年前
$PJET Priority One Jets, Inc. operates as a full service aviation company that provides on demand air charter, jet charter membership cards, and aircraft sales for business aviation, leisure, and government travel. It offers jet sales and leasing services that include private jet leasing and sales, aircraft fractional ownership, and private jet acquisition pricing services; private jet services, including concierge services, private aircraft management and maintenance, private helicopter charter, flight monitoring and coordination, air cargo charter, and government travel services, as well as personal security, medical transport, and disasters evacuation services. The company also provides air cargo freight jet charters for freight forwarding; transportation of heavy and outsize pieces, construction equipment and machine parts, high value commodities and secure/point-to-point, aerospace equipment, peacekeeping support, and dangerous materials; and critical parcel delivery, secure aircraft loading and docking, and remote originations and destinations, as well as oil, automotive, and gas industry/equipment transportation. It offers charter services for various destinations that include New York City, Miami, Los Angeles, Las Vegas, London, Sydney, Bahamas, Monaco, Istanbul, and Ibiza. The company is based in New York, New York with additional locations in the Americas, Europe, and Asia.