SEC Sues Pair Over Lies to Investors, Kickback Bid to FBI Agent

Two men misled investors to get them to buy stock in several companies, at least one of which they controlled, netting them over $4.5 million, the SEC said July 17.

Garrett O’Rourke and Michael J. Black worked together to lie to investors about their ties to legitimate financial institutions as part of high-pressure promotional campaigns, the Securities and Exchange Commission said in a complaint filed in the U.S. District Court for the Eastern District of New York.

Black attempted to solicit at least one broker to help with the sales in exchange for kickbacks, the SEC said. But that broker ...