The SEC recently initiated litigation against the controlling shareholder of two (2) public companies for causing those companies to issue false and misleading press releases. In its complaint against this individual, the SEC claims that over a several month period of time, he caused the companies to issue press releases and other public disclosures containing false and misleading information. The SEC charges that during this period of time there was a suspicious increase in the trading volume and share prices of the companies in question.
Tag: Anthony Welch
A former investment adviser from Oxford, Mississippi who was charged by the Securities Exchange Commission (SEC) on August 13, 2012 with securities fraud in conjunction with a series of false and misleading press releases issued in 2010 by eHydrogen Solutions, Inc. (“eHydrogen”) and ChromoCure, Inc. (“ChromoCure”), two now defunct microcap stock companies. Welch served as Chairman and Chief Executive Officer of the two companies during the relevant period and was responsible for the issuance of the false and misleading press releases of both companies. Welch is now based offshore, most recently in Freeport, Bahamas.