SEC Charges U.S. Perpetrators in $35 Million International Boiler Room Scheme (SEC Press Release)

The Securities and Exchange Commission today charged a Hawaii resident and two firms he used to orchestrate a scheme in which he covertly founded small companies, installed management, and recruited overseas boiler rooms that pressured investors into buying their stock while he pocketed more than $2 million in consulting fees from proceeds of the fraudulent stock sales.

View release in full here.View related SEC Complaint.