https://marketmanipulation.org/cases/technique/fake-press-releases/ The 19 most recent enforcement records tagged fake press releases in the Market Manipulation library, each linked to its primary source. Tags are our classification, not the charges. en-us Tue, 06 Jan 2026 00:00:00 GMT https://marketmanipulation.org/cases/sec-muhammad-saad-shoukat-fake-press-releases-2026/ https://marketmanipulation.org/cases/sec-muhammad-saad-shoukat-fake-press-releases-2026/ In 2026, the Securities and Exchange Commission brought an action against Muhammad Saad Shoukat and 5 others, alleging conduct this library classifies as fake press releases and insider trading. No monetary relief has been recorded at this stage; the matter is an allegation and remains unproven. A parallel criminal matter is referenced in the release. Tue, 06 Jan 2026 00:00:00 GMT SEC fake-press-releases insider-trading https://marketmanipulation.org/cases/sec-jeremy-koski-fake-press-releases-2023/ https://marketmanipulation.org/cases/sec-jeremy-koski-fake-press-releases-2023/ In September 2023 the SEC charged Hawaii resident Jeremy Koski with posting fake U.S. Bank notices and phony press releases to lift the price of J.C. Penney-backed COTRP securities. He consented to a final judgment dated October 16, 2024 that enjoins him, bars him from penny stock offerings and imposes a $100,000 civil penalty. Fri, 01 Sep 2023 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-in-ovations-holdings-inc-fake-press-releases-2022/ https://marketmanipulation.org/cases/sec-in-ovations-holdings-inc-fake-press-releases-2022/ In 2022, the Securities and Exchange Commission published a release announcing it had obtained a final judgment and $150,000 penalty against In Ovations Holdings for false press releases issued to induce investors to buy its stock. This library classifies the conduct as fake press releases. A parallel criminal matter is referenced in the release. Fri, 09 Dec 2022 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-michael-j-starkweather-fake-press-releases-2021/ https://marketmanipulation.org/cases/sec-michael-j-starkweather-fake-press-releases-2021/ In 2021, the Securities and Exchange Commission published a release announcing it had obtained a default judgment against Andiamo Corporation over a false press release. This library classifies the conduct as fake press releases. Fri, 03 Dec 2021 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-mark-a-miller-fake-press-releases-2021/ https://marketmanipulation.org/cases/sec-mark-a-miller-fake-press-releases-2021/ In June 2021 the SEC sued Minnesota man Mark A. Miller over an alleged pump-and-dump scheme using hijacked shell companies and false press releases. A February 12, 2025 judgment enjoined him and, per the SEC, ordered $126,007 disgorgement plus $9,536 interest, with penny stock and officer-and-director bars. Mon, 21 Jun 2021 00:00:00 GMT SEC fake-press-releases pump-and-dump https://marketmanipulation.org/cases/sec-turbo-global-partners-inc-fake-press-releases-2020/ https://marketmanipulation.org/cases/sec-turbo-global-partners-inc-fake-press-releases-2020/ On August 10, 2020 the Middle District of Florida entered a consent judgment against Turbo Global CEO Robert Singerman, enjoining him from fraud violations, with the civil penalty to be set later on the SEC's motion. The outcome for Turbo Global Partners itself was not checked. Thu, 14 May 2020 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-michael-j-starkweather-matched-orders-2019/ https://marketmanipulation.org/cases/sec-michael-j-starkweather-matched-orders-2019/ The Eastern District of New York entered a final consent judgment against former Andiamo CEO Michael Starkweather on January 14, 2021 and a default judgment against Andiamo on November 30, 2021 with a $150,000 penalty. The outcome for William White, charged in a separate complaint, was not checked. Thu, 17 Oct 2019 00:00:00 GMT SEC matched-orders fake-press-releases https://marketmanipulation.org/cases/sec-brian-weber-fake-press-releases-2018/ https://marketmanipulation.org/cases/sec-brian-weber-fake-press-releases-2018/ In 2018, the Securities and Exchange Commission obtained a judgment against Brian Weber and Bebida Beverage Co., alleging conduct this library classifies as fake press releases. The release records disgorgement of $208,000, prejudgment interest of $23,436. Wed, 31 Oct 2018 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-john-madsen-andalusian-resorts-fake-press-releases-2018/ https://marketmanipulation.org/cases/sec-john-madsen-andalusian-resorts-fake-press-releases-2018/ In October 2018 the Securities and Exchange Commission announced that a federal court had entered final judgment against John Madsen, charged in 2017 with orchestrating a pump-and-dump of Andalusian Resorts and Spas stock through false press releases and a straw CEO, barring him from penny stock offerings and imposing an $80,000 penalty. Co-defendant Bernard Fried, who pleaded guilty in a parallel criminal case, had consented to a judgment with $3,311 in disgorgement plus interest, and Andalusian was enjoined by default. Tue, 23 Oct 2018 00:00:00 GMT SEC fake-press-releases pump-and-dump undisclosed-control-blocks https://marketmanipulation.org/cases/sec-in-ovations-holdings-inc-fake-press-releases-2018/ https://marketmanipulation.org/cases/sec-in-ovations-holdings-inc-fake-press-releases-2018/ In September 2018 the SEC sued In Ovations Holdings and its CEO Mark Goldberg over allegedly false press releases. The Eastern District of New York entered a consent judgment against Goldberg on 6 October 2022 (disgorgement of $250,000 plus interest, deemed satisfied by criminal orders, and two bars) and a $150,000 penalty judgment against the company on 2 November 2022. Thu, 06 Sep 2018 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-andy-z-fan-fake-press-releases-2018/ https://marketmanipulation.org/cases/sec-andy-z-fan-fake-press-releases-2018/ In 2018, the Securities and Exchange Commission settled an action with Andy Z. Fan, alleging conduct this library classifies as fake press releases, matched orders and reverse merger schemes. The release records a civil penalty of $140,000. Wed, 25 Apr 2018 00:00:00 GMT SEC fake-press-releases matched-orders reverse-merger-schemes https://marketmanipulation.org/cases/sec-wellness-center-usa-inc-fake-press-releases-2018/ https://marketmanipulation.org/cases/sec-wellness-center-usa-inc-fake-press-releases-2018/ In 2018, the Securities and Exchange Commission settled an action with Wellness Center USA, Inc., alleging conduct this library classifies as fake press releases. The release does not state a monetary figure that we were able to extract. Thu, 12 Apr 2018 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-andalusian-resorts-fake-press-releases-2017/ https://marketmanipulation.org/cases/sec-andalusian-resorts-fake-press-releases-2017/ In October 2017 the SEC sued Andalusian Resorts and Spas, Inc., its former CEO Bernard Fried and its undisclosed controller John Madsen, alleging false press releases about a Costa Rican hotel acquisition and a pump-and-dump. By October 2018 all three had been resolved: Fried settled in January 2018, the company defaulted in May 2018, and the court imposed an $80,000 penalty on Madsen on October 17, 2018. Mon, 30 Oct 2017 00:00:00 GMT SEC fake-press-releases pump-and-dump undisclosed-control-blocks https://marketmanipulation.org/cases/sec-raymond-h-barton-fake-press-releases-2017/ https://marketmanipulation.org/cases/sec-raymond-h-barton-fake-press-releases-2017/ In 2017, the Securities and Exchange Commission obtained a judgment against Raymond H. Barton, alleging conduct this library classifies as fake press releases. The release does not state a monetary figure that we were able to extract. Thu, 09 Feb 2017 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-randy-a-hamdan-fake-press-releases-2016/ https://marketmanipulation.org/cases/sec-randy-a-hamdan-fake-press-releases-2016/ In 2016, the Securities and Exchange Commission obtained a judgment against Randy A. Hamdan and Oracle Consultants, LLC, alleging conduct this library classifies as fake press releases and pump and dump. The release records a civil penalty of $150,000, disgorgement of $29,216, prejudgment interest of $5,965. Wed, 17 Feb 2016 00:00:00 GMT SEC fake-press-releases pump-and-dump https://marketmanipulation.org/cases/sec-frank-morelli-iii-undisclosed-control-blocks-2015/ https://marketmanipulation.org/cases/sec-frank-morelli-iii-undisclosed-control-blocks-2015/ The SEC's September 2015 YaFarm Technologies pump-and-dump case against Frank Morelli III and Louis Buonocore ended on 11 December 2018 in the District of Massachusetts, when the SEC told the court it would not seek disgorgement or a penalty. Both men had consented to judgments in September 2015 with the money left open. Morelli was sentenced to 84 months in a related criminal case and Buonocore died in 2018. Mon, 21 Sep 2015 00:00:00 GMT SEC undisclosed-control-blocks pump-and-dump fake-press-releases https://marketmanipulation.org/cases/sec-george-ivakhnik-fake-press-releases-2015/ https://marketmanipulation.org/cases/sec-george-ivakhnik-fake-press-releases-2015/ The SEC's September 2015 case over fake press releases issued by The Mobile Star Corporation and its CEO George Ivakhnik ended, as to Ivakhnik, in a consent judgment filed on 11 March 2016 in the Southern District of New York. It orders $1,575 in disgorgement, $126.66 in interest and a $150,000 penalty, and bars him as an officer or director. The company's outcome was not read. Thu, 17 Sep 2015 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-8000-inc-jonathan-e-bryant-thomas-j-kelly-fake-press-releases-2015/ https://marketmanipulation.org/cases/sec-8000-inc-jonathan-e-bryant-thomas-j-kelly-fake-press-releases-2015/ In 2015, the SEC announced a default final judgment ordering 8000, Inc. to pay a $6,525,000 civil penalty in a 2012 case alleging the company and others pushed up its stock with false financial reports and press releases while restricted shares were sold. Consultant Jonathan Bryant had disgorged $2,969,525, and the other three defendants had settled. Wed, 16 Sep 2015 00:00:00 GMT SEC fake-press-releases https://marketmanipulation.org/cases/sec-daniels-fake-press-releases-2014/ https://marketmanipulation.org/cases/sec-daniels-fake-press-releases-2014/ In 2014, an SEC administrative law judge granted summary disposition against Joseph P. Doxey, finding he willfully violated antifraud and registration provisions in 2008 and 2009 by authorizing misleading press releases for Pure H20 Bio-Technologies and related stock sales, and against William J. Daniels for Section 5 violations. Doxey was ordered to disgorge $57,654 and Daniels $16,246.46. Thu, 15 May 2014 00:00:00 GMT SEC fake-press-releases unregistered-distributions