Penny-Stock Trader’s Imprisonment for Stiffing SEC Affirmed

A penny-stock trader’s challenges to a judgment in favor of the SEC for more than $12 million and to his subsequent incarceration for not complying with a payment plan failed Thursday.

Some of Edward Bronson’s arguments are untimely, and they all lack merit, the US Court of Appeals for the Second Circuit said in an unpublished order.

Bronson’s effort to get himself and his company, E-Lionheart Associates LLC, out from under a penny-stock bar was also unsuccessful.

The Securities and Exchange Commission alleged in 2012 that Bronson and his company engaged in a penny stock scheme in which they resold ...