Category Archives: MicroCap Stocks

SEC Charges Anthony Thompson, Jay Fung & Eric Van Nguyen In Pump & Dump Scheme

November 17, 2014- Anthony Thompson of Bethesda, Maryland , Jay Fung of Delray Beach, FL,  and Eric Van Nguyen of Canada were charged by the SEC for operating pump and dump schemes involving stocks they were promoting in their purported independent newsletters.

The SEC says the three operated in concert to obtain large positions in micro-cap stocks, hyped the stocks in supposedly independent newsletters , then after the stock price rose, dumped their low priced positions on the market they had falsely created.

The penny stocks they promoted were:

  • Blast Applications
  • Smart Holdings
  • Blue Gem Enterprises
  • Lyric Jeans
  • Mass Hysteria Entertainment Company

The newsletters used to promote the stocks include:

  • PennyPic.com
  • FreeInvestmentReport.com
  • OxofWallStreet.com
  • UnrealStocks.com
  • InsanePics.com

Thompson’s wife Kendall Thompson and John Babikian were named as relief defendants for purposes of recovering money in their possession from the schemes.

In September 2014, the Manhattan District Attorney indicted 8 people, including Thompson, Fung and Van Nguyen claiming they profited by more than $8 million operating the scheme.

Rex Securities Law , located in Boca Raton, FL, provides nationwide representation to  who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

SEC Suspends Trading in Nine Penny Stocks

September 25, 2014

The Securities & Exchange Commission (SEC) suspended trading in the following penny stocks:

  • All Grade Mining (HYII)
  • Bluforest, Inc. (BLUF)
  • DHS Holding Co. (DHSM)
  • Essential Innovations Technology Corp. (ESIV)
  • Global Green, Inc. (GOGC)
  • Inova Technology, Inc. (INVA)
  • mLight Tech Inc. (MLGT)
  • Solar Thin Films, Inc. (SLTZ)
  • Xumani International Holdings Corp. (XUII)

A trading suspension provides the SEC with a way to immediately neutralize a potential threat to investors when questions arise about the accuracy of information about publicly traded companies.

These companies were identified as a potential threat to investors by the  MicroCap Fraud Task Force created last year by the SEC to target fraudulent and abusive trading in penny stocks.

If you were sold any of these stocks by your stockbroker and have suffered losses, you may be able to recover damages. Call to discuss your options.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900