The Securities and Exchange Commission has suspended trading in 17 companies as part of a crackdown on penny stock fruad.
The action was coordinated by the agency’s new Microcap Fraud Working Group, according to a statement Tuesday.
“They may be called ‘penny stocks,’ but victims of microcap fraud can suffer devastating losses,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “The SEC’s new Microcap Fraud Working Group is targeting the insiders and promoters, as well as the transfer agents, attorneys, auditors, broker-dealers, and other “gatekeepers” who flourish in the shadows of this less-than-transparent market.”
The 17 companies and their ticker symbols are:
American Pacific Rim Commerce Group (APRM), based in Citra, Fla. Anywhere MD, Inc. (ANWM), based in Altascadero, Calif. Calypso Wireless Inc. (CLYW), based in Houston. Cascadia Investments, Inc. (CDIV), based in Tacoma, Wash. CytoGenix Inc. (CYGX), based in Houston. Emerging Healthcare Solutions Inc. (EHSO), based in Houston. Evolution Solar Corp. (EVSO), based in The Woodlands, Texas. Global Resource Corp. (GBRC), based in Morrisville, N.C. Go Solar USA Inc. (GSLO), based in New Orleans. Kore Nutrition Inc. (KORE), based in Henderson, Nev. Laidlaw Energy Group Inc. (LLEG), based in New York City. Mind Technologies Inc. (METK), based in Cardiff, Calif. Montvale Technologies Inc. (IVVI), based in Montvale, N.J. MSGI Security Solutions Inc. (MSGI), based in New York City. Prime Star Group Inc. (PSGI), based in Las Vegas, Nev. Solar Park Initiatives Inc. (SOPV), based in Ponte Verde Beach, Fla. United States Oil & Gas Corp. (USOG), based in Austin, Texas.
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