Two individuals and their microcap trading companies will pay the SEC about $39 million to settle charges that they failed to register as brokers or dealers and engaged in a pump-and-dump scheme involving a hemp product developer.
Alexander J. Dillon, Cosmin I. Panait, and their businesses—GPL Ventures LLC and GPL Management LLC—also agreed to five-year penny-stock bars in the consent judgment, entered by Judge Alvin K. Hellerstein of the US District Court for the Southern District of New York.
The Securities and Exchange Commission withdrew requests for disgorgement and civil penalties against the hemp company, HempAmericana Inc., and obtained a ...
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