{"id":6177,"date":"2017-07-25T13:00:08","date_gmt":"2017-07-25T18:00:08","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1684"},"modified":"2022-03-22T14:34:25","modified_gmt":"2022-03-22T19:34:25","slug":"sec-cases-ny-lawyer-accused-shell-company-stock-fraud-research-scientist-charged-insider-trading-officer-pyramid-scam-targeted-latinos-must-pay-disgorgement-two-men-accu","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-ny-lawyer-accused-shell-company-stock-fraud-research-scientist-charged-insider-trading-officer-pyramid-scam-targeted-latinos-must-pay-disgorgement-two-men-accu\/","title":{"rendered":"SEC Cases: NY Lawyer Accused of Shell Company Stock Fraud, Research Scientist is Charged with Insider Trading, Officer in Pyramid Scam That Targeted Latinos Must Pay Disgorgement, and Two Men Are Accused of Price Rigging"},"content":{"rendered":"<p>\t\t\t\t<strong>Lawyer Barred Over Fraud Allegations<\/strong><br \/>\nThe US Securities and Exchange Commission has barred David Lubin, a New York-based lawyer, from practicing or appearing before the regulator and acting as any company\u2019s director or officer. The regulator is accusing him of making misleading and false statements in corporate filings and committing fraud while he was the attorney and director of Entertainment Art. He was also the public company\u2019s biggest shareholder.<\/p>\n<p>According to the SEC\u2019s securities order, not only did Lubin draft and sign misleading public filings, but also, he concealed their \u201ctrue ownership\u201d as well as that the fact that a significant chunk of the shares were of a &#8220;restricted nature.\u201d<\/p>\n<p>As a result, after Entertainment Art\u2019s name was changed to Biozoom, over 14 million shares were resold illegally in an unregistered distribution, rendering $34M of illicit profits. At the time, the shares had belonged to a shell investor.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-cases-ny-lawyer-accused-shell-company-stock-fraud-research-scientist-charged-insider-trading-officer-pyramid-scam-targeted-latinos-must-pay-disgorgement-two-men-accu\/#more-6177\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawyer Barred Over Fraud Allegations The US Securities and Exchange Commission has barred David Lubin, a New York-based lawyer, from practicing or appearing before the regulator and acting as any company\u2019s director or officer. The regulator is accusing him of making misleading and false statements in corporate filings and committing fraud while he was 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":[3811,3760,3761],"tags":[],"class_list":["post-6177","post","type-post","status-publish","format-standard","hentry","category-insider-trading","category-sec-enforcement","category-securities-and-exchange-commis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Cases: NY Lawyer Accused of Shell Company Stock Fraud, Research Scientist is Charged with Insider Trading, Officer in Pyramid Scam That Targeted Latinos Must Pay Disgorgement, and Two Men Are Accused of Price Rigging &#8212; Investor Lawyers Blog &#8212; July 25, 2017<\/title>\n<meta name=\"description\" content=\"Lawyer Barred Over Fraud Allegations The US Securities and Exchange Commission has barred David Lubin, a New York-based lawyer, from practicing or &#8212; July 25, 2017\" \/>\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-ny-lawyer-accused-shell-company-stock-fraud-research-scientist-charged-insider-trading-officer-pyramid-scam-targeted-latinos-must-pay-disgorgement-two-men-accu\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Cases: NY Lawyer Accused of Shell Company Stock Fraud, Research Scientist is Charged with Insider Trading, Officer in Pyramid Scam That Targeted Latinos Must Pay Disgorgement, and Two Men Are Accused of Price Rigging &#8212; Investor Lawyers Blog &#8212; July 25, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Lawyer Barred Over Fraud Allegations The US Securities and Exchange Commission has barred David Lubin, a New York-based lawyer, from practicing or &#8212; July 25, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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