The Securities and Exchange Commission (SEC) filed suit against Adam S. Gottbetter, a current Boca Raton, FL resident. The SEC alleged that Mr. Gottbetter used his New York office for the planning and implementing of a market manipulation scheme. Two Canadian stock promoters were also charged for assisting Mr. Gottbetter.
The SEC alleged that this case involves three market manipulations schemes to increase the stock price of three different publicly traded securities. It further alleged that Mr. Gottbetter played the role of architect and facilitator, using his law office as headquarters to plan the schemes. The SEC alleged that Mr. Gottbetter and the Defendants planned to pump the company’s stock prices and then sell the shares they controlled, reaping huge profits. Continue reading →