In a press release dated June 3, 2013, the Securities & Exchange Commission suspended trading in 61 shell companies that are lying dormant on the over-the-counter market and which it deems are ripe for fraud.
Since microcap companies are very thinly traded they have great potential for abuse by fraudsters who highjack them and use them for “pump and dump” schemes and other fraudulent activities. Here are the 61 companies named in the SEC press release, followed by their trading symbol:
50. Sound Health Solutions, Inc.
51. Sovereign Exploration Associates International, Inc.
52. Sports Concepts, Inc.
53. Sports Media, Inc.
54. TMT Capital Corp.
55. UniMark Group, Inc. (The)
56. Verdant Brands, Inc.
57. Viking Power Services, Inc.
58. Vinings Investment Properties Trust
59. Washington Life Insurance Co. of Amer
Rex Securities Law , located in Boca Raton, FL, 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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