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The SEC charged the former CEO and president of a Nasdaq-traded security technology company and three other individuals in a fraudulent broker bribery scheme. The DOJ filed charges against one of the individuals in a parallel action.

The SEC announced the latest charges in a series of cases involving microcap companies, officers and promoters arising out of a joint law enforcement investigation to unearth penny stock schemes. The SEC charged five penny stock promoters with conducting various manipulation schemes involving undisclosed payments to induce purchases of a microcap stock to generate the false appearance of market interest. See: SEC Complaint - Altomare ; SEC Complaint - Berkowitz ; SEC Complaint - Brown ; SEC Complaint - McKnight and Bauer ; SEC Complaint - Urban AG and Ray and Clark . Related news: FINRA Brings