SEC busted a father and son microcap fraud scheme

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Securities and Exchange Commission vs Nasdaq
Securities and Exchange Commission vs Nasdaq

The U.S. Securities and Exchange Commission (SEC) stopped a transatlantic microcap fraud scheme operated by a father and son and their associates.

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On Thursday, the SEC announced that it filed a securities fraud lawsuit against Timothy Page, and his son Trevor Page.

Timothy Page is a citizen of the United Kingdom. He is a recidivist. In 2007 and 2009, the Commission sued him for violating federal securities laws in connection with several stock offerings.

The SEC also named five entities as defendants in the case including Ticino Capital Limited, Wellesley Holdings Limited, Porrima Limited, Emergent Investment Company, and FJ Investments International.

Additionally, the SEC also included Timothy Page’s wife, Janan Page as a relief defendant in the lawsuit. Her husband and son allegedly directly deposited illegal proceeds to her bank and brokerage accounts. Timothy and Trevor also used her brokerage account to conduct manipulative trading of stocks.

Furthermore, the Commission filed another securities fraud lawsuit against Daniel Cattlin and William Shupe for their roles in the microcap fraud scheme.