Home / Cases / Undisclosed control blocks Undisclosed control blocks enforcement actions This library records 119 enforcement actions tagged undisclosed control blocks. An undisclosed control block is a controlling shareholding held through nominees and offshore entities so that no individual holding crosses a reporting threshold, leaving the market with a false picture of who controls the company.
Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the undisclosed control blocks technique page.
Actions 100
Total penalties $1.1m
Median penalty $31k
Largest $490k
Criminal parallel 14% Action Agency Filed Penalty Status SEC v. Airborne Wireless Network and others (pump and dump, 2025) SEC 2025-02-07 — judgment SEC v. Adage Capital Management, L.P. (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. Alphabet Inc. (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. David L. Kanen (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. Essex Woodlands Management, Inc. (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. Oaktree Capital Management, L.P. (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. The Bank of Nova Scotia (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. The Goldman Sachs Group, Inc. (undisclosed control blocks, 2024) SEC 2024-09-25 — settled SEC v. Wells Real Estate Investment, LLC, Janalie C. Joseph a/k/a Janalie C. Bingham, and Jean Joseph, et al. (ponzi schemes, 2024) SEC 2024-08-20 — unknown SEC v. Peixin Xu (undisclosed control blocks, 2023) SEC 2023-09-27 — settled SEC v. Bruderman Asset Management, LLC and Gary Goldberg Planning Services, LLC and Matthew J. Bruderman (undisclosed control blocks, 2023) SEC 2023-09-26 — settled SEC v. Monroe Capital Management Advisors, LLC (undisclosed control blocks, 2023) SEC 2023-07-20 — settled SEC v. Damon R. Durante (undisclosed control blocks, 2023) SEC 2023-06-30 — unknown SEC v. RTW Investments, LP (undisclosed control blocks, 2023) SEC 2023-05-30 — settled SEC v. Alexander J. Dillon (undisclosed control blocks, 2023) SEC 2023-05-12 — judgment SEC v. Cosmin I. Panait (undisclosed control blocks, 2023) SEC 2023-05-12 — judgment SEC v. William Andrew Stack, Esq. (undisclosed control blocks, 2023) SEC 2023-03-31 $333k judgment SEC v. John C. Ahearn (undisclosed control blocks, 2022) SEC 2022-11-03 — judgment SEC v. Carl V. Dawson (undisclosed control blocks, 2022) SEC 2022-09-30 — settled SEC v. Darrell Green (undisclosed control blocks, 2022) SEC 2022-09-30 — settled SEC v. James Patrick O'connell (undisclosed control blocks, 2022) SEC 2022-09-26 — settled SEC v. Maccio and Michelle (undisclosed control blocks, 2022) SEC 2022-08-09 — unknown SEC v. Deccan Value Investors LP and Vinit Bodas (undisclosed control blocks, 2022) SEC 2022-08-03 — settled SEC v. John W. Pauciulo, Esq. (undisclosed control blocks, 2022) SEC 2022-07-07 $490k settled SEC v. Jillian Sidoti (undisclosed control blocks, 2022) SEC 2022-05-17 $22k judgment SEC v. TKO Farms, Inc., et al. (undisclosed control blocks, 2022) SEC 2022-05-09 — filed SEC v. Perini Capital, LLC and Michael D. Perini (undisclosed control blocks, 2022) SEC 2022-05-06 — settled SEC v. Domenic Calabrigo et al. (pump and dump, 2022) SEC 2022-04-19 — filed SEC v. Dean Shah et al. (paid stock promotion, 2022) SEC 2022-04-15 — filed SEC v. Mark Alan Bourgeois (undisclosed control blocks, 2022) SEC 2022-03-02 — filed SEC v. Blockchain Credit Partners d/b/a DeFi Money Market and Gregory Keough and Derek Acree (undisclosed control blocks, 2021) SEC 2021-08-06 — settled SEC v. LFS Funding Limited Partnership, et al. (undisclosed control blocks, 2021) SEC 2021-05-20 — settled SEC v. Peter J. Decaprio (undisclosed control blocks, 2021) SEC 2021-05-10 — settled SEC v. Rosedale Asset Management, LLC and Princeton Advisory Wealth Management, LLC (undisclosed control blocks, 2021) SEC 2021-02-05 — settled SEC v. William Andrew Stack, Esq. (undisclosed control blocks, 2021) SEC 2021-01-21 — filed SEC v. Jillian Sidoti (undisclosed control blocks, 2020) SEC 2020-10-19 — filed SEC v. Henry Sargent et al. (undisclosed control blocks, 2020) SEC 2020-09-16 — judgment SEC v. Kelvin Boon, LLC and Rajesh Pavithran (undisclosed control blocks, 2020) SEC 2020-08-13 — settled SEC v. Diane J. Harrison, Esq. (undisclosed control blocks, 2020) SEC 2020-06-18 — judgment SEC v. Benjamin L. Bunker, Esq. (pump and dump, 2020) SEC 2020-01-23 — unknown SEC v. Ulrik Debo (custodianship shell hijacking, 2020) SEC 2020-01-03 — filed SEC v. Richard Eden, et al. and Dale Pearlman (undisclosed control blocks, 2019) SEC 2019-11-04 $125k settled SEC v. Eric J. "EJ" Dalius et al. (ponzi schemes, 2019) SEC 2019-10-15 — unknown SEC v. Chip Hackley (matched orders, 2019) SEC 2019-09-25 — unknown SEC v. George Matin (matched orders, 2019) SEC 2019-09-25 — settled SEC v. Harold Minsky (matched orders, 2019) SEC 2019-09-25 — settled SEC v. Henry Sargent et al. (undisclosed control blocks, 2019) SEC 2019-06-27 — filed SEC v. Stephen Brandon Anderson (undisclosed control blocks, 2019) SEC 2019-05-28 — settled SEC v. Charter Capital Management, LLC and Steven Morris Bruce (undisclosed control blocks, 2019) SEC 2019-04-23 $40k settled SEC v. Ascension Asset Management, LLC Gooder and Grenville M., JR. (undisclosed control blocks, 2019) SEC 2019-03-07 — unknown SEC v. Philip Thomas Kueber (undisclosed control blocks, 2018) SEC 2018-10-26 — judgment SEC v. John Madsen, Andalusian Resorts and others (fake press releases, 2018) SEC 2018-10-23 — judgment SEC v. David Michael Naylor, CPA (undisclosed control blocks, 2018) SEC 2018-08-29 — judgment SEC v. Delaney Equity Group LLC Delaney and others (reverse merger schemes, 2018) SEC 2018-08-29 $20k settled SEC v. Citigroup Global Markets Inc. and Citigroup Inc. (undisclosed control blocks, 2018) SEC 2018-08-16 — settled SEC v. Daniel M. Fitzpatrick, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 — judgment SEC v. Kevin M. Modany, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 — judgment SEC v. Roger S. Zullo (undisclosed control blocks, 2018) SEC 2018-07-06 — judgment SEC v. Adam S. Tracy, Esq. (undisclosed control blocks, 2018) SEC 2018-05-23 — judgment SEC v. Manhattan Transfer Registrar Company and John C. Ahearn (reverse merger schemes, 2018) SEC 2018-05-17 — settled SEC v. Analytica Bio-Energy Corp., et al., Marvin Winick (undisclosed control blocks, 2018) SEC 2018-02-28 — judgment SEC v. Alan Weinberg, CPA and Weinberg & Baer LLC (reverse merger schemes, 2018) SEC 2018-02-21 — judgment SEC v. Jonathan Strum, Esq. (reverse merger schemes, 2018) SEC 2018-02-21 — judgment SEC v. Andalusian Resorts and others (fake press releases, 2017) SEC 2017-10-30 — filed SEC v. Harold J. Swart, Jr. (undisclosed control blocks, 2017) SEC 2017-10-26 — judgment SEC v. Potomac Asset Management Company, Inc. and Goodloe E. Byron, Jr. (undisclosed control blocks, 2017) SEC 2017-09-11 — settled SEC v. Lek Securities Corp. et al. (layering, 2017) SEC 2017-08-29 — unknown SEC v. Allen Chi (undisclosed control blocks, 2017) SEC 2017-08-21 — judgment SEC v. Joe Yiu Cheung ( and Dylon De Lu Zhang) (paid stock promotion, 2017) SEC 2017-08-02 — settled SEC v. Carrillo and Luis J. (paid stock promotion, 2017) SEC 2017-07-26 — judgment SEC v. Huettel and Wade D., Esq. (paid stock promotion, 2017) SEC 2017-07-26 — judgment SEC v. Troy Joseph Flowers, et al. (undisclosed control blocks, 2017) SEC 2017-07-19 — filed SEC v. Andrew S. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 — settled SEC v. Christopher A. Conley (undisclosed control blocks, 2017) SEC 2017-06-29 — settled SEC v. Marilyn Stark (undisclosed control blocks, 2017) SEC 2017-06-29 — settled SEC v. Matthew L. Egna (undisclosed control blocks, 2017) SEC 2017-06-29 $10k settled SEC v. Nigel G. Lindsay (undisclosed control blocks, 2017) SEC 2017-06-29 — settled SEC v. Sarah E. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 — settled SEC v. Imran Husain, et al. (shell factories, 2017) SEC 2017-05-24 — filed SEC v. Emerald Isle Exploration, Ltd. and Samuell Eads and Lloyd C. Brewer (insider trading, 2017) SEC 2017-05-12 $10k settled SEC v. Alison, LLC Alison and Stephen D. (undisclosed control blocks, 2017) SEC 2017-03-29 — settled SEC v. Rose and Sheldon MKJJ Consulting LLC (reverse merger schemes, 2017) SEC 2017-03-23 — settled SEC v. Black and Hans Peter Interinvest Corporation, Inc. (undisclosed control blocks, 2017) SEC 2017-01-24 — judgment SEC v. Edward F. Panos, et al. (shell factories, 2016) SEC 2016-12-20 — judgment SEC v. Bodden and Cliffe R. (undisclosed control blocks, 2016) SEC 2016-09-16 — judgment SEC v. Fusion Pharm, Inc. (undisclosed control blocks, 2016) SEC 2016-09-16 — judgment SEC v. Microcap Management LLC Bayside Realty Holdings LLC Meadpoint Venture Partners, LLC (undisclosed control blocks, 2016) SEC 2016-09-16 — judgment SEC v. Sears and William J. (undisclosed control blocks, 2016) SEC 2016-09-16 — judgment SEC v. Tod A. Ditommaso, Esq. (undisclosed control blocks, 2016) SEC 2016-09-16 — unknown SEC v. Bay City Transfer Agency and Registrar, Inc. Amersey and Nitin M. (undisclosed control blocks, 2016) SEC 2016-08-18 — unknown SEC v. Lathen and Donald F. ("Jay") Jr. Eden Arc Capital Management, LLC Eden Arc Capital Advisors, LLC (undisclosed control blocks, 2016) SEC 2016-08-15 — unknown SEC v. Santos and Postal & Company, P.C. and Joseph A. Scolaro, CPA (undisclosed control blocks, 2016) SEC 2016-04-29 — judgment SEC v. Fenway Partners, LLC (undisclosed control blocks, 2015) SEC 2015-11-03 — settled SEC v. BDO USA, LLP (undisclosed control blocks, 2015) SEC 2015-09-09 — judgment SEC v. Sean C. Henaghan, CPA (undisclosed control blocks, 2015) SEC 2015-09-09 — judgment SEC v. Mackensen & Company, Inc. and and Warren J. Mackensen (undisclosed control blocks, 2015) SEC 2015-09-03 — settled SEC v. Bradford D. Szczecinski (undisclosed control blocks, 2015) SEC 2015-08-17 — settled SEC v. Tamara S. Kraus (undisclosed control blocks, 2015) SEC 2015-08-17 — settled SEC v. First Xeris Corp. (undisclosed control blocks, 2015) SEC 2015-08-06 — settled SEC v. Goldman and Sachs & Co. (undisclosed control blocks, 2015) SEC 2015-06-30 — settled
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