Beverage Share Scam Funds Casino Binges, Crypto Ponzi Scheme Get SEC's Attention: Financial Crime Weekly
Portfolio Pulse from Neil Dennis
The SEC has taken action against fraudulent activities involving SHE Beverage Company, a cryptocurrency Ponzi scheme, and Cannabiz Mobile. SHE Beverage Company was ordered to pay over $12 million for a scam share scheme. The SEC is also investigating a crypto Ponzi scheme involving NovaTech, with subpoenas issued to Dapilinu Dunbar and Corrie Sampson. Additionally, a judgment was entered against Anthony Jay Pignatello for a share scam related to Cannabiz Mobile (OTC:LGBI), resulting in a payment of $43,337.
February 16, 2024 | 9:28 pm
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Cannabiz Mobile (OTC:LGBI) was involved in a share scam, leading to a final judgment against Anthony Jay Pignatello, who was ordered to pay disgorgement and pre-judgment fees totaling $43,337.
The involvement of Cannabiz Mobile in a share scam and the subsequent SEC action against Anthony Jay Pignatello directly impacts the company's reputation and could lead to a decrease in investor confidence, potentially affecting its stock price negatively in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100