FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo
“Unfortunately, fraudsters often seek to exploit difficult situations like the ongoing pandemic for their own gain. The SEC frequently relies on the tips that we receive from the public,” an SEC spokeswoman said. “I expect that is just the beginning. Typically about six months in we’ll see that matters will begin to crystallize, and at that point I would expect an uptick in enforcement cases,” he said.
The agency has created a new group to closely monitor the market and spot potential abuses. So far, that effort has led it to suspend trading in 31 so-called penny stocks for allegedly touting dubious COVID-19 cures, tests, treatments and medical supplies to investors. Stephen Kohn, a partner at Kohn, Kohn and Colapinto, said his firm has seen “a slew of coronavirus-related tips.” The SEC has heard from investors about scams related to a large number of small private companies as well as larger, listed “essential” firms like meat-packing houses, he said.
Stay tuned.
Time to crack down on knees on the neck cops.
Rich grifters gotta grift
They’ll probably arrest the whistleblower.
No one went to jail due to what ensued during and after the great financial crisis. Why would this be any different? Main st goes bankrupt, wall st AND politicians bring it ridiculous profits. The wealth gap rises even more. Click bait articles don’t help either.
YourAnonRiots
Start with Cuomo killing the elderly
Meaning profiteering and insider trading?
Yeah right. For that they have to put Stupident and his cronies behind bars. Not happening.
😂😂😂😂😂😂😂 that's your best one yet reeauters
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