{"id":2115,"date":"2018-03-05T15:43:10","date_gmt":"2018-03-05T21:43:10","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=2115"},"modified":"2022-03-22T15:45:38","modified_gmt":"2022-03-22T20:45:38","slug":"uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/","title":{"rendered":"UK Brokerage Firm is Accused of $50M Stock Fraud as SEC Files Manipulative Trading Charges"},"content":{"rendered":"<p>\t\t\t\t&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>The SEC\u2019s complaint contends that Beaufort and Kyriacou became involved in a pump-and-dump scam with a man that they didn\u2019t know was working for the FBI. With him, they purportedly spoke about using promotions to raise stock prices, engaging in matched trades to affect the stock price, and selling the shares to make a profit.<\/p>\n<p>The SEC filed another complaint contending that in recorded phone calls, HD View CEO Dennis Mancino and CEO of WT Consulting Group LLC William T. Hirschy consented to manipulate the company\u2019s stock by utilizing the undercover agent\u2019s broker network to create a \u201cfraudulent\u201d demand. The two of them were supposed to \u201cmanipulate HD View stock\u201d so that its price would go up prior to having the brokers in the agent\u2019s network liquidate their positions. In return, there would be a kickback paid from the money made from trading. The regulator has also filed civil charges against Mancino, Hirschy, and the entities TJM Investments Inc., WT Consulting Group, and DJK Investments 10 Inc.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/#more-2115\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; The SEC\u2019s complaint contends that Beaufort and Kyriacou became involved in a pump-and-dump scam with a man that they didn\u2019t know was working for the FBI. With him, they purportedly spoke about using promotions to raise stock prices, engaging in matched trades to affect the stock price, and selling the shares to make [&hellip;]<\/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":[4082,3740,3760,3761,3741],"tags":[2987,2961,2988],"class_list":["post-2115","post","type-post","status-publish","format-standard","hentry","category-beaufort-securities-ltd","category-miscellaneous","category-sec-enforcement","category-securities-and-exchange-commis","category-securities-fraud","tag-beaufort-securities-ltd","tag-sec","tag-stock-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UK Brokerage Firm is Accused of $50M Stock Fraud as SEC Files Manipulative Trading Charges | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"In a securities fraud case, the SEC has brought charges against Beaufort Securities Ltd., which is a UK-based brokerage firm, and investment manager Peter Kyriacou accusing them of engaging in manipulative trading involving shares of HD View, which is a CCTV company located in Florida. 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Read more.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"UK Brokerage Firm is Accused of $50M Stock Fraud as SEC Files Manipulative Trading Charges","datePublished":"2018-03-05T21:43:10+00:00","dateModified":"2022-03-22T20:45:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/"},"wordCount":408,"keywords":["Beaufort Securities Ltd.","SEC","stock fraud"],"articleSection":["Beaufort Securities Ltd.","Miscellaneous","SEC Enforcement","Securities and Exchange Commission","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/","url":"https:\/\/www.investorlawyers.com\/blog\/uk-brokerage-firm-accused-50m-stock-fraud-sec-files-manipulative-trading-charges\/","name":"UK Brokerage Firm is Accused of $50M Stock Fraud as SEC Files Manipulative Trading Charges | SSEK Law Firm Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-03-05T21:43:10+00:00","dateModified":"2022-03-22T20:45:38+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"In a securities fraud case, the SEC has brought charges against Beaufort Securities Ltd., which is a UK-based brokerage firm, and investment manager Peter Kyriacou accusing them of engaging in manipulative trading involving shares of HD View, which is a CCTV company located in Florida. 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