{"id":1010,"date":"2012-01-28T23:59:39","date_gmt":"2012-01-28T23:59:39","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/01\/sec_charges_first_resource_gro"},"modified":"2022-03-09T16:13:54","modified_gmt":"2022-03-09T22:13:54","slug":"sec-charges-first-resource-gro","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-first-resource-gro\/","title":{"rendered":"SEC Charges First Resource Group LLC in Alleged Florida Penny Stock Boiler Room Scam"},"content":{"rendered":"

\t\t\t\tThe SEC is accusing First Resource Group LLC and its founder David H. Stern of violating sections of the Securities Act of 1933 and the Securities Exchange Act of 1934. The Commission contends that they ran a boiler room scam involving penny stock companies<\/a> while selling the same stocks to make illegal earnings. <\/p>\n

First Resource and Stern allegedly hired telemarketers to make fraudulent solicitations to brokers to buy Cytta Corporation and TrinityCare Senior Living Inc. stocks. Meantime, Stern was also selling Cytta stock and TrinityCare shares to investors while buying small quantities to make it look as if actual trading activity was taking place so that investors would buy the shares. <\/p>\n

The SEC claims that Stern and First Resources used a telephone sales boiler room to defraud investors and make inflated claims while manipulating the stocks’ price and making a profit. The Commission says they acted as unregistered brokers. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The SEC is accusing First Resource Group LLC and its founder David H. Stern of violating sections of the Securities Act of 1933 and the Securities Exchange Act of 1934. The Commission contends that they ran a boiler room scam involving penny stock companies while selling the same stocks to make illegal earnings. First Resource […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752],"tags":[],"class_list":["post-1010","post","type-post","status-publish","format-standard","hentry","category-financial-firms"],"yoast_head":"\nSEC Charges First Resource Group LLC in Alleged Florida Penny Stock Boiler Room Scam — Investor Lawyers Blog — January 28, 2012<\/title>\n<meta name=\"description\" content=\"The SEC is accusing First Resource Group LLC and its founder David H. 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