{"id":4059,"date":"2016-12-27T20:50:46","date_gmt":"2016-12-28T02:50:46","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4059"},"modified":"2016-12-27T20:50:46","modified_gmt":"2016-12-28T02:50:46","slug":"sec-files-microcap-fraud-cases-alleging-fake-ipo-related-penny-stock-sales","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-files-microcap-fraud-cases-alleging-fake-ipo-related-penny-stock-sales\/","title":{"rendered":"SEC Files Microcap Fraud Cases Alleging Fake IPO-Related Penny Stock Sales"},"content":{"rendered":"<p>\t\t\t\tThe U.S. Securities and Exchange Commission is barring a number of market participants from the penny stock industry for their involvement in a number of purportedly fake initial public offerings of microcap stocks. The regulator says that investors were bilked because of these schemes.<\/p>\n<p>Among those barred is Newport Beach, CA securities attorney Michael J. Muellerleile. He is accused of authorizing misleading and bogus registration statements that were employed in fake IPOs for several microcap issuers. The statements were generated to purportedly move unrestricted penny stock shares to offshore market participants. Muellerleile\u2019s firm, M2 Law Professional Corp, attorney Lan Phuong Nguyen, and American Energy Development Corp. CFO Joel Felix are also charged in this<a href=\"https:\/\/www.stockbroker-fraud.com\"> microcap fraud case<\/a>.<\/p>\n<p>Nguyen allegedly signed misleading and false legal opinion letters. Felix is accused of making misleading and false statements. Earlier this month, the regulator suspended trading in American Energy Development.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-files-microcap-fraud-cases-alleging-fake-ipo-related-penny-stock-sales\/#more-4059\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission is barring a number of market participants from the penny stock industry for their involvement in a number of purportedly fake initial public offerings of microcap stocks. The regulator says that investors were bilked because of these schemes. Among those barred is Newport Beach, CA securities attorney Michael J. [&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":[3962,3801,3760,3741],"tags":[2669],"class_list":["post-4059","post","type-post","status-publish","format-standard","hentry","category-microcap-market-fraud","category-sec","category-sec-enforcement","category-securities-fraud","tag-pennys-tock"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Files Microcap Fraud Cases Alleging Fake IPO-Related Penny Stock Sales &#8212; Investor Lawyers Blog &#8212; December 27, 2016<\/title>\n<meta name=\"description\" content=\"The U.S. Securities and Exchange Commission is barring a number of market participants from the penny stock industry for their involvement in a number of &#8212; December 27, 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-files-microcap-fraud-cases-alleging-fake-ipo-related-penny-stock-sales\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Files Microcap Fraud Cases Alleging Fake IPO-Related Penny Stock Sales &#8212; 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