SEC v. Anthony Thompson, Jr., et al. (paid stock promotion, 2020)

Judgment entered

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2020, the Securities and Exchange Commission obtained a judgment against Anthony Thompson, Jr., Jay Fung and Eric Van Nguyen, alleging conduct this library classifies as paid stock promotion and pump and dump. The release records disgorgement of $2,390,965. A parallel criminal matter is referenced in the release.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25001
Date filed	2020-12-30
Date resolved	2020-12-30
Status	judgment
Asset class	equities
Criminal parallel	Yes: convicted (Thompson and Fung (state case, Manhattan District Attorney))
Defendants	Anthony Thompson, Jr. (individual) ; Jay Fung (individual) ; Eric Van Nguyen (individual)
Cited as charged or alleged	Securities Act s.17(b) (statutes and rules cited in the document; not a finding that they were violated)
Techniques	Paid stock promotion , Pump and dump

What was ordered

Civil penalty: —
Disgorgement: $2.4m
Prejudgment interest: $382k
Total relief: $2.8m
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on December 30, 2020 as release LR-25001. The respondents named are Anthony Thompson, Jr., Jay Fung and Eric Van Nguyen (3 individuals, 0 entities).

This library tags the matter as paid stock promotion and pump and dump, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The release describes several alleged pump-and-dump schemes in which the three gained control of a large share of microcap stocks and hyped them in newsletters that said they might sell while they intended to, or were already selling, and that hid their paid compensation. Thompson and Fung had been convicted in a parallel state criminal case over the same conduct. This library tags the matter as paid stock promotion and pump and dump.

The conduct is recorded against equities.

The relief recorded in our data is disgorgement of $2,390,965, prejudgment interest of $381,689. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

Paid stock promotion — see how it works, what statute it engages, and every other action tagged the same way.
Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2020-12-30 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

Date filed	Agency	Record	Status
2019-02-01	SEC	SEC v. Anthony J. Thompson, Jr., et al. (paid stock promotion, 2019)	Settled
2020-12-30	SEC	SEC v. Anthony Thompson, Jr., et al. (paid stock promotion, 2020)(this record)	Judgment entered

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Other actions in the library sharing at least one technique tag with this one.

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Global Wholehealth Partners Corp., Charles Strongo, Brian M. Volmer, Joshua Yafa, Jamie M. Yafa, and Empire Associates, Inc. (paid stock promotion, 2022)	SEC	2022-02-17	Paid Stock Promotion , Pump And Dump	—	filed
SEC v. Brian Robert Sodi, et al. (newsletter scalping, 2019)	SEC	2019-09-19	Newsletter Scalping , Paid Stock Promotion +1	—	settled
SEC v. Anthony J. Thompson, Jr., et al. (paid stock promotion, 2019)	SEC	2019-02-01	Paid Stock Promotion , Pump And Dump	—	settled
OSC v. David Tuan Seng Lim and Michael Mugford (pump and dump, 2018)	OSC	2018-03-28	Pump And Dump , Paid Stock Promotion	—	judgment
SEC v. Joe Yiu Cheung, a/k/a Dylon de lu Zhang (paid stock promotion, 2017)	SEC	2017-08-02	Paid Stock Promotion , Pump And Dump +1	$150k	settled
SEC v. Jeffrey D. Martin, Thomas L. Tedrow and others (Mainstream Entertainment pump and dump, 2017)	SEC	2017-08-01	Pump And Dump , Paid Stock Promotion +2	$142k	judgment

Record added September 10, 2026. submit a correction.