https://marketmanipulation.org/cases/technique/shell-factories/ The 9 most recent enforcement records tagged shell factories in the Market Manipulation library, each linked to its primary source. Tags are our classification, not the charges. en-us Tue, 06 Aug 2019 00:00:00 GMT https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2019/ https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2019/ In August 2019 the SEC reported a final consent judgment against New Jersey lawyer Gregg E. Jaclin for running a shell factory scheme with Imran Husain, in which sham companies were taken public and sold, and permanently suspended him from practising before the SEC. He must pay $40,473 in disgorgement and interest combined, faces a penny stock bar, and pays no penalty given his anticipated criminal sentence. The case against Husain continued. Tue, 06 Aug 2019 00:00:00 GMT SEC shell-factories https://marketmanipulation.org/cases/sec-tiber-creek-corp-and-james-m-cassidy-shell-factories-2019/ https://marketmanipulation.org/cases/sec-tiber-creek-corp-and-james-m-cassidy-shell-factories-2019/ In March 2019 the SEC settled with Tiber Creek Corp. and its president James Cassidy, who maintained an inventory of public shell corporations and sold control of them to private companies without registering as brokers; Cassidy also filed over 45 late ownership reports. They owe $117,000 disgorgement, $17,697.54 interest and a $75,000 penalty. Tue, 26 Mar 2019 00:00:00 GMT SEC shell-factories https://marketmanipulation.org/cases/sec-delaney-equity-group-llc-delaney-reverse-merger-schemes-2018/ https://marketmanipulation.org/cases/sec-delaney-equity-group-llc-delaney-reverse-merger-schemes-2018/ In August 2018 the SEC settled with Ian Kass, a former Delaney Equity Group representative, in a proceeding that also named the firm and its CEO David Delaney, finding he helped sell blank-check shells that undisclosed control persons had manufactured. Kass is barred from the securities industry and owes $9,269.85 disgorgement and $1,509.80 interest. Wed, 29 Aug 2018 00:00:00 GMT SEC reverse-merger-schemes shell-factories undisclosed-control-blocks https://marketmanipulation.org/cases/sec-diane-j-harrison-et-al-shell-factories-2018/ https://marketmanipulation.org/cases/sec-diane-j-harrison-et-al-shell-factories-2018/ In April 2018 the SEC sued Diane Harrison, Michael Daniels and Catherine Bradaick-Zolla over alleged microcap shell companies sold as free-trading public companies. Bradaick-Zolla consented to a judgment in September 2018, Harrison consented to an injunction in June 2020, and the court entered a $100,000 judgment against Daniels on 26 December 2024. Mon, 30 Apr 2018 00:00:00 GMT SEC shell-factories undisclosed-control-blocks https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2017/ https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2017/ In May 2017 the SEC reported that a federal grand jury had indicted New Jersey securities lawyer Gregg Jaclin on eight counts over a scheme to create and sell public shell companies, the same conduct the SEC alleges in its civil case against Jaclin and the undisclosed control person Imran Husain. In August 2019 Jaclin consented to a final judgment, but the SEC said its litigation against Husain was ongoing. Wed, 24 May 2017 00:00:00 GMT SEC shell-factories undisclosed-control-blocks https://marketmanipulation.org/cases/sec-edward-f-panos-et-al-shell-factories-2016/ https://marketmanipulation.org/cases/sec-edward-f-panos-et-al-shell-factories-2016/ In December 2016 the SEC charged Utah microcap promoter Edward F. Panos with running a shell factory: creating and selling public shells through figurehead CEOs while hiding his ownership, then promoting the stock and selling his remaining shares. Without admitting the allegations he agreed, subject to court approval, to pay $1,437,503 in disgorgement, $345,000 in interest and a $1,437,503 penalty and to accept officer-director and penny stock bars; his wife is a relief defendant. Tue, 20 Dec 2016 00:00:00 GMT SEC shell-factories undisclosed-control-blocks https://marketmanipulation.org/cases/sec-michael-j-muellerleile-esq-and-m2-law-professional-corp-reverse-merger-schem/ https://marketmanipulation.org/cases/sec-michael-j-muellerleile-esq-and-m2-law-professional-corp-reverse-merger-schem/ In December 2016 the SEC settled with California attorney Michael Muellerleile and his firm M2 Law over creating five public microcap shells with friends as officers, false registration statements and sham IPOs through straw shareholders while he kept control. They owe $73,058 disgorgement, $11,209.68 interest and a $70,000 penalty. Fri, 16 Dec 2016 00:00:00 GMT SEC shell-factories undisclosed-control-blocks https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2016/ https://marketmanipulation.org/cases/sec-imran-husain-et-al-shell-factories-2016/ In May 2016 the SEC charged Imran Husain and attorney Gregg Jaclin with running a scheme to create and sell shell companies. Jaclin consented to a final judgment in 2019; the SEC said in August 2019 that the case against Husain was ongoing, and no later outcome was found. Thu, 12 May 2016 00:00:00 GMT SEC shell-factories https://marketmanipulation.org/cases/sec-asher-z-zwebner-pump-and-dump-2016/ https://marketmanipulation.org/cases/sec-asher-z-zwebner-pump-and-dump-2016/ In April 2016 the SEC filed two actions over the Crown Dynamics shell: one against accountant Asher Zwebner, and one against promoter Christopher Larson, lawyer Luke Zouvas and others. Zwebner took a default judgment in November 2016, and the SEC reported in July 2020 that consent judgments entered on June 1, 2020 concluded the litigation against the remaining defendants. Tue, 26 Apr 2016 00:00:00 GMT SEC pump-and-dump shell-factories