SEC v. Brian Quinn and David Skriloff (Environmental Packaging, 2024)

Judgment entered

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In October 2024 a Massachusetts federal court entered final judgments against Brian Quinn and David Skriloff in the Environmental Packaging Technologies case, ordering each to pay $230,464 in penalties. The SEC alleged Quinn arranged a reverse merger of a shell secretly controlled by Morrie Tobin and a promotional campaign, and Skriloff misstated it in filings.

The record

What was ordered

Civil penalty

$461k

Disgorgement

—

Prejudgment interest

—

Total relief

$461k

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 on October 18, 2024 (litigation release 26163) that on October 17, 2024 the District of Massachusetts entered final judgments against Quinn and Skriloff in SEC v. Tobin, filed in 2018 and amended in 2019 to add them.

The SEC's complaint alleged that Quinn facilitated the reverse merger of a public shell secretly controlled by Tobin with a private company of which Skriloff was CEO, then arranged a $1 million promotional campaign and directed offshore asset managers to sell Tobin's stock at a profit, that Skriloff made misstatements in public reports about the merger and the promotion, and that offshore manager Daniel Lacher used nominee entities to hold control persons' shares. They were charged under Sections 17(a)(1) and (3), Section 10(b) and Rule 10b-5(a) and (c), and Quinn under Section 5. Trading was halted in June 2017.

Each was ordered to pay $230,464 in civil penalties, $460,928 in all. The record showed one $230,464 penalty and $479,000 as disgorgement; the $479,000 is the total of disgorgement, interest and penalties in a 2022 judgment against Lacher, not these defendants, and is cleared. This library tags the matter as reverse merger schemes and undisclosed control blocks.

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.

• Reverse merger schemes — see how it works, what statute it engages, and every other action tagged the same way.
• Undisclosed control blocks — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2024-10-18 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.

Related actions

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

Record added September 10, 2026. submit a correction.