Tag Archives: U.S. Attorney’s Office

China – SEC Charges 18 Traders for Stock Manipulation

Posted on 23 October 2019 by Ken Zino

According to the SEC’s complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices. After amassing their position, the traders placed several small buy orders to push up prices so they could then sell their stock at artificially high prices. Continue reading →

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SEC Charges Engine Manufacturing Company Execs with Fraud

Posted on 19 July 2019 by Ken Zino

According to the complaint, filed in federal court in Chicago, Gary Winemaster, Power Solutions International Inc.’s former CEO, and two former senior sales executives, Craig Davis and James Needham, caused Power Solutions to fraudulently record revenue for purported sales of products that were not complete, that the customer had not agreed to accept, for which the price was falsely inflated, and from improper “bill and hold” arrangements. Continue reading →

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