SEC Accuses Matthew Brown from ADVFN's Investor Hub of Penny Stock Manipulation

Brainteaser

http://www.marketrap.com/article ... -stock-manipulation

SEC Accuses Matthew Brown from ADVFN's Investor Hub of Penny Stock Manipulation               

By Perry H. Rod, Published: May 25th, 2009 1:22 PM PDT

                              

Forget about illegal naked short selling and other hedge fund profiteering schemes that may have brought down the world economy.  The United States Securities and Exchange Commission has more important matters occupying its attention.

In a complaint filed in Delaware by the SEC, InvestorsHub.com founder and operator Matthew Brown and seven others were accused of a pump-and-dump scheme in 2006 involving GH3 International, Inc. and Asia Global, in two separate incidents.  Brown is accused of being a "liaison" between the accused in the GH3 incident, where the participants "used wash sales, matched orders, and other manipulative trading, timed to coincide with false, misleading and touting press releases by the company, to inflate the price of GH3 stock."  The group is suspected to have made off with $747,609 from the GH3 trades.

In a separate incident, Brown orchestrated a pump-and-dump scheme with broker-dealers in California who "met through InvestorsHub.com, pumped the price of Asia Global stock using wash sales, matched orders and other manipulative trading, coordinated with false, misleading, and touting press releases by the company."

The complaint alleges that "the illicit proceeds from this scheme totaled at least $4,050,529."

InvestorsHub.Com, Inc. is a wholly-owned subsidiary of ADVFN, which trades on the London Stock Exchange as AFN. InvestorsHub.Com operates both Investors Hub and Silicon Investor, according to its website.  ADVFN, according to its annual report, receives over 10 million dollars in revenues per year.  Matthew Brown is not on the parent company's board of directors or a part of their executive management.  He is listed as the Lead Site Administrator for Investors Hub and has posted 24,285 messages on the board, according to the website.

Brainteaser

Pacer update 27 May 09 Securities and Exchange Commission v. Dynkowski et al CIVIL DOCKET FOR CASE #: 1:09-cv-00361-SLR

Date Filed # Docket Text

05/27/2009 Case assigned to Judge Sue L. Robinson. Please include the initials of the Judge (SLR) after the case number on all documents filed. (rjb) (Entered: 05/27/2009)

Brainteaser

SEC is so slow....

Brainteaser

Documents & Articles


The Full SEC Complaint:
http://sec.gov/litigation/complaints/2009/comp21053.pdf


The US DOJ Press Release:
http://www.usdoj.gov/usao/de/press/2009/Pump%20&%20Dump%20Stock%20Schemes%20Indictments.pdf


Troopers aid in scam case:
http://www.gosanangelo.com/news/2007/feb/17/troopers-aid-scam-case/


UD student, Newark man named in
'pump and dump' civil suit:
http://www.delawareonline.com/article/20090521/NEWS01/90521029/1006/NEWS/UD+student++Newark+man+named+in+%3Cbr%3E+pump+and+dump++civil+suit


7 charged in alleged stock scheme:
http://www.businessweek.com/ap/financialnews/D98AQDQG0.htm


SEC Sues Eight in Three States in Penny Stock Ring:
http://www.bloomberg.com/apps/news?pid=20601087&sid=an0vTmWDEj_Y&refer=home


Pompano Beach man charged in stock manipulation:
http://www.bizjournals.com/southflorida/stories/2009/05/18/daily63.html


O.C. stock board founder, broker indicted for fraud:
http://ocbiz.freedomblogging.com/2009/05/21/oc-stock-board-founder-broker-indicted-for-fraud/12005/


Former Newark man among those indicted in stock fraud scheme:
http://www.ledgerdelaware.com/articles/2009/05/21/news/doc4a156b9de488d415326660.txt


The SEC To The Rescue!:
http://dealbreaker.com/2009/05/the-sec-to-the-rescue.php


Las Vegas company's stock manipulated for profits:
http://m.lasvegassun.com/news/2009/may/21/sec-las-vegas-companys-stock-manipulated-profits/


Felony Criminal Charges For InvestorsHub.com Operator, Matthew Brown, In Penny Stock Scheme:
http://blogs.money.aol.ca/2009/05/21/felony-criminal-charges-for-investorshubcom-operator-matthew-brown-in-penny-stock-scheme/

04/16/2009 3 REDACTED VERSION of 2 Indictment by USA as to Defendant Sealed. (rpg) (rpg). (Entered: 04/22/2009)
http://tinyurl.com/n9t6nz

- Note: This link will not post as a live link. Copy and paste it to any browser and the Pacer Document PDF file can be opened.

Brainteaser

可怜的yyber, I think he was doing a right thing,
to limited new thread of penny stock.
Matthew Brown is InvestorsHub.com founder and operator,  a guy should be called as HH
on that website.