{"id":3815,"date":"2016-09-19T13:41:51","date_gmt":"2016-09-19T18:41:51","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3815"},"modified":"2022-03-25T13:14:37","modified_gmt":"2022-03-25T18:14:37","slug":"sec-cases-blank-check-maker-accused-fraud-alleged-scam-involving-company-makes-containers-grow-marijuana-faces-civil-charges-retail-ceo-promoter-accused-fraudulent-market","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-blank-check-maker-accused-fraud-alleged-scam-involving-company-makes-containers-grow-marijuana-faces-civil-charges-retail-ceo-promoter-accused-fraudulent-market\/","title":{"rendered":"SEC Cases: Blank Check Maker is Accused of Fraud, Alleged Scam Involving Company That Makes Containers to Grow Marijuana Faces Civil Charges, &#038; Retail CEO and Promoter Accused of Fraudulent Marketing Campaigns"},"content":{"rendered":"<blockquote>\n<div class=\"WordSection1\">\n<div class=\"\"><\/div>\n<div class=\"\"><b class=\"\"><span class=\"\">Florida Man Implicated in Scam Involving\u00a0Black\u00a0Check Companies\u2019 Stocks<\/span><\/b><\/div>\n<div class=\"\"><span class=\"\">The U.S. Securities and Exchange Commission has filed civil fraud charges against Sheldon R. Rose. The Florida man established over a dozen blank check companies, which the SEC contends are worthless and have no operations despite that they are registered to sell stock.\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">According to the regulator, Rose appointed relatives and friends as figurehead officers and shareholders but concealed that he was the one controlling the entities and their securities. Although corporate filings made it seem as if the companies were legitimate startups, the SEC contends that this was only so that reverse mergers could be conducted, the \u00a0securities could be sold, and Rose and others could profit illicitly.<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">In addition to settling the civil charges, Rose is barred from engaging in penny stock offerings in the future or working as a director\/officer of a public company. He also faces criminal charges.\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">Rose\u2019s civil case is connected to the one that the\u00a0 SEC filed last year against 10 individuals in a penny stock scam involving blank check companies headed for reverse mergers.\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><\/div>\n<\/div>\n<\/blockquote>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-cases-blank-check-maker-accused-fraud-alleged-scam-involving-company-makes-containers-grow-marijuana-faces-civil-charges-retail-ceo-promoter-accused-fraudulent-market\/#more-3815\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Florida Man Implicated in Scam Involving\u00a0Black\u00a0Check Companies\u2019 Stocks The U.S. Securities and Exchange Commission has filed civil fraud charges against Sheldon R. Rose. The Florida man established over a dozen blank check companies, which the SEC contends are worthless and have no operations despite that they are registered to sell stock.\u00a0 \u00a0 According to the [&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":[3801,3760],"tags":[3655,3656,3657],"class_list":["post-3815","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","tag-empowered-products","tag-fusion-pharm","tag-penny-stock-scams"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Cases: Blank Check Maker is Accused of Fraud, Alleged Scam Involving Company That Makes Containers to Grow Marijuana Faces Civil Charges, &amp; Retail CEO and Promoter Accused of Fraudulent Marketing Campaigns &#8212; Investor Lawyers Blog &#8212; September 19, 2016<\/title>\n<meta name=\"description\" content=\"Florida Man Implicated in Scam Involving\u00a0Black\u00a0Check Companies\u2019 Stocks The U.S. Securities and Exchange Commission has filed civil fraud charges against &#8212; September 19, 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-cases-blank-check-maker-accused-fraud-alleged-scam-involving-company-makes-containers-grow-marijuana-faces-civil-charges-retail-ceo-promoter-accused-fraudulent-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Cases: Blank Check Maker is Accused of Fraud, Alleged Scam Involving Company That Makes Containers to Grow Marijuana Faces Civil Charges, &amp; Retail CEO and Promoter Accused of Fraudulent Marketing Campaigns &#8212; Investor Lawyers Blog &#8212; September 19, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Florida Man Implicated in Scam Involving\u00a0Black\u00a0Check Companies\u2019 Stocks The U.S. Securities and Exchange Commission has filed civil fraud charges against &#8212; September 19, 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=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Cases: Blank Check Maker is Accused of Fraud, Alleged Scam Involving Company That Makes Containers to Grow Marijuana Faces Civil Charges, & Retail CEO and Promoter Accused of Fraudulent Marketing Campaigns &#8212; Investor Lawyers Blog &#8212; September 19, 2016","description":"Florida Man Implicated in Scam Involving\u00a0Black\u00a0Check Companies\u2019 Stocks The U.S. Securities and Exchange Commission has filed civil fraud charges against &#8212; 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