The SEC sued a North Carolina man and his attorney, alleging they used fake documents to obtain 239 million shares in a private company by falsely promising $3.36 billion in investments, then using those shares as collateral for a $1 million loan they never repaid.
Charles Cole and attorney Torben Welch violated federal securities laws through their scheme targeting Infinite Reality Inc., a tech company working on digital experiences and extended reality that has acquired brands such as Napster, according to the Securities and Exchange Commission’s complaint filed Thursday in the US District Court for the Southern District of New ...
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