The Securities and Exchange Commission filed an emergency action and froze the assets of five individuals and six offshore entities for a fraudulent scheme that generated $25 million from illegal sales of multiple microcap companies’ stock. Several of them were subject of recent SEC trading suspension orders: Sandy Steele Unlimited Inc., WOD Retail Solutions Inc., Bioscience Neutraceuticals, Inc. and Rivex Technology Corp.
The SEC alleges that from January 2018, Nelson Gomes, working with Michael Luckhoo-Bouche and others, enabled corporate control persons that were unknown to the public to conceal their identities while dumping their company’s stock into the market. The SEC claims that these illegal stock sales were often advanced by promotional campaigns. Some of them even included false and misleading information about the COVID-19 pandemic. SEC’s complain also charges Canadians Shane Schmidt, Douglas Roe and Kelly Warawa with fraudulently dumping shares of Sandy Steele.
