Former "Teach Me to Trade" Saleswoman Is Taught a Lesson by the SEC

The SEC announced that the U.S. District Court for the Eastern District of Virginia entered settled final judgments against Linda (Knudsen) Woolf and Hands on Capital, Inc. in Securities and Exchange Commission v. Linda Woolf, Hands on Capital, Inc., et al., Civil Action No. 1:08cv235 (E.D. Va. filed March 11, 2008). Without admitting or denying the Commission's allegations, Woolf and Hands on Capital also consented to the entry of final judgments permanently enjoining them from future violations of Section 10(b) of the Securities Exchange Act of 1934, and from receiving compensation for participating in the development, presentation, promotion, marketing, or sale of any classes, workshops, or seminars (and from receiving compensation for any sales of connected products or services) given to actual or prospective securities investors concerning securities trading. The gist of the complaint was that she had falsely advertised herself as a successful securities trader.

See: Litigation Release.