{"id":3798,"date":"2016-09-24T17:52:54","date_gmt":"2016-09-24T22:52:54","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3798"},"modified":"2022-03-25T13:13:53","modified_gmt":"2022-03-25T18:13:53","slug":"sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/","title":{"rendered":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div class=\"WordSection1\">\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator Miguel Mesa with involvement in a $20M penny stock scam to bilk senior investors and others. At least 600 investors were allegedly victimized in the fraud. The two men have consented to partial settlements of the civil charges accusing them of violating broker-dealer registration and anti-fraud provision of federal securities laws. However, they are not admitting to or denying the claims.\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">According to the Commission, Sizer hired Mesa to draw in and bilk investors in both his companies. Mesa ran boiler rooms in California and Florida. Sizer\u00a0<\/span><span class=\"\">gave Mesa pitch points for boiler room agents to use when selling stock shares.\u00a0 The points included alleged misrepresentations, including that investor money would go toward development and research but not toward commissions. Sizer also purportedly solicited investors by phone using the same misrepresentations and omissions to sell company shares.<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">Unfortunately, contends the regulator, the two men misappropriated about 90% of the money raised for their own enrichment and to pay the agents their sales commissions of 15-20%.\u00a0 Sizer is accused of using at least $3M on his own spending.<\/span><\/div>\n<\/div>\n<div class=\"\"><\/div>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/#more-3798\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator Miguel Mesa with involvement in a $20M penny stock scam to bilk senior investors and others. At least 600 investors were allegedly victimized in the fraud. The two men have consented to [&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":[3760,3741,3803],"tags":[2720],"class_list":["post-3798","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-securities-fraud","category-senior-investors","tag-penny-stock"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors &#8212; Investor Lawyers Blog &#8212; September 24, 2016<\/title>\n<meta name=\"description\" content=\"&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator &#8212; September 24, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors &#8212; Investor Lawyers Blog &#8212; September 24, 2016\" \/>\n<meta name=\"twitter:description\" content=\"&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator &#8212; September 24, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors &#8212; Investor Lawyers Blog &#8212; September 24, 2016","description":"&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator &#8212; September 24, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/","twitter_card":"summary_large_image","twitter_title":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors &#8212; Investor Lawyers Blog &#8212; September 24, 2016","twitter_description":"&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator &#8212; September 24, 2016","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\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors","datePublished":"2016-09-24T22:52:54+00:00","dateModified":"2022-03-25T18:13:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/"},"wordCount":418,"keywords":["Penny Stock"],"articleSection":["SEC Enforcement","Securities Fraud","Senior Investors"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/","name":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors &#8212; Investor Lawyers Blog &#8212; September 24, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-09-24T22:52:54+00:00","dateModified":"2022-03-25T18:13:53+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"&nbsp; The Securities and Exchange Commission is charging ex-Samoyedic\u2019s Inc. and Fun Cool Free Inc. founder Craig V. Sizer and boiler room operator &#8212; September 24, 2016","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-ex-microcap-ceo-boiler-room-operator-20m-penny-stock-fraud-bilk-senior-investors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Charges Ex-Microcap CEO and Boiler Room Operator in $20M Penny Stock Fraud to Bilk Senior Investors"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-Zg","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=3798"}],"version-history":[{"count":3,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3798\/revisions"}],"predecessor-version":[{"id":25459,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3798\/revisions\/25459"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=3798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=3798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=3798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}