The defendants’ microcap fraud scheme generated more than $10 million in illegal stock sales, according to the SEC.
In a statement, SEC Boston Regional Office Director Paul Levenson said, “As we allege in the complaints, the defendants took elaborate steps to hide their fraudulent conduct. We will continue to pursue bad actors, whether located in the U.S. or abroad, who engage in complex schemes to generate illicit profits at the expense of U.S. investors.”
The SEC is seeking a court order freezing the assets of Timothy, Trevor, and Janan Page as well as the assets of the five entity defendants.
The Commission is also seeking permanent injunctions, disgorgement of ill-gotten gains plus interest, and civil penalties against all the defendants.
Furthermore, the SEC is seeking an order prohibiting Cattlin, Shuppe, and Trevor Page from trading penny stocks. It is also requesting the court to ban the Pages, Cattlin, and Shupe from serving as an officer or director in publicly traded companies.
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