The U S Securities and Exchange Commission charged James M. Farinella , Integrated Capital Partners (ICP) , Anthony Amado, Equities Awareness Group LLC (EAG) and Carlos Palomino with securities fraud involving the manipulation and artificial inflation of the share price of microcap company Pazoo, Inc., a cannabis penny stock (PZOO).
The SEC alleges that Farinella and ICP controlled the entire public float of stock in Pazoo and that by engaging in matched trading they created the appearance of an active market for Pazoo which boosted its market price. According to the SEC Farinella dumped his Pazoo shares after the price rose, netting him a million dollar gain.
In a parallel action the US Attorney for the District of New Jersey announced criminal charges against Farinella.
If you have losses on penny stocks recommended to you by your broker, contact us to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide 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.
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