February 11, 2015
The U.S. Securities & Exchange Commission (SEC) filed a complaint alleging the sale of unregistered securities against the following defendants:
- Caledonian Bank Ltd.
- Caledonian Securities Ltd.
- Clear Water Securities, Inc.
- Legacy Global Markets S.A.
- Verdmont Capital S.A.
The SEC alleges that these defendants sold penny stocks of four shell companies :
- Swingplane Ventures, Inc.
- Goff Corp.
- Norstra Energy Inc.
- Xumanii, Inc.
The SEC complaint seeks an injunction, disgorgement and civil penalties.
Following the filing of the complaint, Caledonian Bank was placed into voluntary liquidation. According to the Cayman Compass.com, Caledonian depositors tried to withdraw over $68 million following the SEC action causing a run on the bank.
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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