In a statement, SEC Boston Regional Office Director Paul Levenson said, “Microcap stocks can be particularly vulnerable to manipulative schemes, and investors should be alert to the heightened risks that exist during this national emergency. The SEC will continue to act quickly to protect investors from investment scams, including those seeking to capitalize on the COVID-19 crisis.”
The SEC accused Gomes, Luckhoo-Bouche, Roe, Warawa, FFS Capital Limited, and Atlantean Management Corporation of violating the antifraud and registration provisions of the federal securities laws.
The Commission charged Schmidt with violation of the antifraud provisions while Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited, and Thyme International Limited with violation of registration provisions.
It seeking permanent injunctions, conduct-based injunctions, disgorgement of allegedly ill-gotten gains plus interest, civil penalties, and penny stock trading prohibitions against the defendants.
