SEC charges 16 people involve in $194 million “pump-and-dump” stock manipulation scheme

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In the third complaint, the SEC identified the defendants as Domenic Calbrigo, Curtis Lehner, Hasan Sario, and Courtney Vasseur. These defendants carried out their pump-and-dump scheme, following a similar pattern from 2016 to 2018.

In a statement, SEC Division of Enforcement Gurbir Grewal noted that the defendants “orchestrated some of the most complex microcap stock fraud schemes… However, investigative teams from three SEC offices doggedly kept on their trail, working across borders, and ended this alleged global scheme.”

Securities regulators and other law enforcement agencies in more than 20 countries helped the SEC in its investigations that led to the charges against the defendants. The U.S. Attorney’s Office for the Southern District of New York filed parallel criminal cases against the defendants.

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