samsamsamiam
2 years ago
SEC Charges Multiple Defendants with Investment Fraud Scheme Involving Penny Stock Companies
Litigation Release No. 25414 / June 9, 2022
Securities and Exchange Commission v. Trends Investments Inc. et al., Civil Action No. 1:22-cv-10889 (D. Mass. filed June 8, 2022)
The Securities and Exchange Commission charged one company and five individuals in connection with a securities fraud scheme involving the offer and sale of stock in two publicly traded penny stock companies.
According to the SEC's complaint, Trends Investments Inc., an unregistered entity, and Trends personnel Clinton Greyling of Florida, Leslie Greyling (Clinton's father, a resident of the United Kingdom), and former Massachusetts resident Brandon Rossetti engaged in a scheme to defraud investors in private offers and sales of shares of two publicly traded penny stock companies, Alterola Biotech Inc. and Token Communities Ltd. The Greylings and Rossetti allegedly lied to investors about whether Trends owned and could deliver to investors the shares it claimed to be selling. They are further charged with making a variety of misrepresentations to investors in order to keep investor funds, obtain further investments, placate investor concerns, and avoid detection. According to the complaint, Rossetti also acted as an unregistered broker by soliciting investors, receiving transaction-based compensation from Trends, and claiming to be a "broker" or "wealth manager."
The SEC's complaint also charges New York resident Roger Bendelac with participating in the scheme by placing manipulative trades in one of the securities Trends was offering and selling to investors, including through the use of two relatives' brokerage accounts to purchase securities which Bendelac sold from a different brokerage account. The SEC's complaint also alleges that Bendelac's relative, New York resident Thomas Capellini, gave Bendelac access to Capellini's brokerage account and funded the account so that Bendelac could place manipulative trades.
The SEC's complaint, filed in federal court in Boston, Massachusetts, charges Trends, Clinton Greyling, Leslie Greyling, and Rossetti with violating Section 17(a) of the Securities Act of 1933 ("Securities Act") and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. The complaint also charges Rossetti with violating Section 15(a) of the Exchange Act, charges Bendelac with violating Sections 17(a)(1) and (3) of the Securities Act and Sections 9(a)(2) and 10(b) of the Exchange Act and Rules 10b-5(a) and (c) thereunder, as well as aiding and abetting Trends', Rossetti's, and the Greylings' violations, and charges Capellini with aiding and abetting Bendelac's violations. The SEC's complaint seeks remedies that include injunctions, disgorgement, prejudgment interest, civil penalties, and penny stock bars. Without admitting or denying the allegations, Clinton Greyling has consented to the entry of a judgment permanently enjoining him from future violations of the charged provisions. In addition, Clinton Greyling has consented to a penny stock bar. The settlement, which is subject to court approval, would leave disgorgement, prejudgment interest, and civil penalties to be determined by the court at a later date.
The SEC's case is being handled by by J. Lauchlan Wash, Trevor Donelan, David M. Scheffler, and Amy Gwiazda of the SEC's Boston Regional Office. The SEC appreciates the assistance of the Financial Industry Regulatory Authority (FINRA), the Colorado Division of Securities, and the Florida Office of Financial Regulation.
https://www.sec.gov/litigation/litreleases/2022/lr25414.htm
Complaint
https://www.sec.gov/litigation/complaints/2022/comp25414.pdf
Thugmuffin
3 years ago
$ABTI Alterola Biotech, Inc. Featured in the PharmaInvestor MagazinePress Release | 04/20/2022
CannaInvestor Magazine Launches New Magazine - PharmaInvestor Magazine
ATLANTA, GA / ACCESSWIRE / April 20, 2022 / Alterola Biotech, Inc. (OTC PINK:ABTI) a UK based pharmaceutical company will be the featured company in the new PharmaInvestor Magazine May 2022 Issue. Despite the downturn in Cannabis, Hemp, and CBD investment sectors, the demand for Cannabis pharmaceutical and biotech investments has prompted Cannabis Investor Magazine and HempCBD Investor Magazine to launch a new title - PharmaInvestor Magazine, to cater to this growing cannabinoid medicine market. The PharmaInvestor Magazine goal is to become the leading industry investment magazine for cannabinoid pharmaceutical and biotech investors, analysts, executives, entrepreneurs, and the financial media. Content will focus on companies developing cannabis-based, cannabinoid and cannabinoid-like prescription medicines, their research pipelines, and intellectual property portfolios. The digital version of the magazine will be accessible and free for the first year to all subscribers who enter their email address. The Alterola Biotech Inc. feature can be found by visiting our website (www.cannainvestormag.com) in the first half of May 2022.
To date, investing in the cannabinoid pharmaceutical and biotech sector has been overshadowed by the recreational sector, but with the success of GW Pharmaceuticals (JAZZ), pharmaceutical companies like Pfizer (PFE) expanding their cannabinoid portfolios, cannabinoid pharmaceutical companies such as Cardiol Therapeutics Inc. listing on NASDAQ, and investments starting to rise in this sector, Cannabis investor interest from outside the space is increasingly growing. The new PharmaInvestor Magazine will feature industry companies, insights, and interviews with key players to help investors uncover the hidden gems in this fast-moving sector.
The cannabinoid pharmaceutical and biotech sectors have everything investors could ask for in terms of sophisticated approaches, strong teams, clear business models, and first mover advantages. It has been the preserve of some very early adopters so far, and our intention is to open this sector up to a wider investor base. With 120,000 subscribers for our current magazines, the new PharmaInvestor Magazine will build on CannaInvestor Magazine's existing audience reach.
Tim Rogers, Executive Chairman states, "Over the past year we have reached major milestones and made significant progress in the development of the Company. PharmaInvestor Magazine will assist us in increasing our exposure to its investor audience, so they can perform their due diligence, understand the sector clearly, make an informed investment decision, and invest in Alterola with confidence, should they wish. It's difficult for those who do not know our sector well to be aware of new and emerging innovative companies. The PharmaInvestor Magazine is an opportunity to educate investors and give them early access to Alterola and other great companies."
Seamus McAuley, CEO states, "We're excited to be the first featured company in the PharmaInvestor Magazine. Alterola aims to bring next generation cannabinoid and cannabinoid-like pharmaceutical medicines to the market in the form of life changing medicines. Our diversified portfolio of product development candidates and technologies will potentially allow us to generate multiple revenue streams, which should, if successful, significantly impact top-line growth."
About Alterola Biotech, Inc.
Alterola Biotech, Inc. is a UK based pharmaceutical company developing cannabinoid, cannabinoid-like, and non-cannabinoid pharmaceutical active pharmaceutical ingredients (APIs) and targeting European novel food approval of cannabinoid-based, cannabinoid-like and non-cannabinoid ingredients and products. If you would like more information about Alterola Biotech Inc., please visit our website https://alterola-abti.com/ or contact our Investor Relations Department at +353 86 838 9812 or ir@alterolabio.com.
CannaInvestor Magazine
CannaInvestor Magazine is a free monthly subscription based digital magazine with an exclusive focus on Cannabis industry finance that delivers convenient insights on publicly-traded and privately-held cannabis companies through informative articles, company profiles, and market trends that inform and educate cannabis investors, analysts, executives, entrepreneurs, and the financial media. For more information, please visit our websites www.cannainvestormag.comwww.cannainvestorcanada.com.
Cannabis Investor Magazine
1 (888) 575-1254, Ext. 1
team@cannainvestormag.com
www.cannainvestormag.com
Planter
3 years ago
Response to traffic on Alterola, I went and found out the truth for personal reasons. Why the SP fall. Long term shareholder in EU was conned out of 500,000 free trading shares, he wasn't paid, he made a mistake. Company and people that did this laid a false trail but are well known for this (see MMG injunction). Stock was dumped and management stopped releases and launch just in time given uncertainty. These Florida guys made less than $60k selling shares they stole. Don't worry about this company, it is solid and has backing and will soon announce their program now they have shares under control. It is a buy at anything under $1 IMO. Check out mgmt team, even more impressive when you meet them, if you think these guys are going to lose then think again. I called them, they replied and were open without being accusatory, very professional and very confident.
Beryl J
3 years ago
Read Form 10-KT, June 9, 2021 and Form S-1, October 19, 2021: "During the period ended March 31, 2021, Bulls Run Limited (Leslie Greyling) made advances to the company to fund operating expenses in the amount of $50,000. These advances are non – interest bearing and have no specified terms of repayment." Then look up "Leslie Greyling".
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