SEC Charges New Jersey's Proteonomix, Inc. & CEO With Securities Fraud
February 19, 2015 -- Today the SEC charged Proteonomix, Inc., a New Jersey biotechnology company, and Michael M. Cohen, the CEO, with securities fraud. Both have agreed to settle with the SEC for a monetary amount tba by the court. The complaint covers 2008 through 2012 and alleges that Cohen pocketed more than $600,000 for his own personal benefit resulting from the issuance and transfer of millions of Proteonomix shares to entities named after Cohen's wife, children and father-in-law. In truth. Cohen directed all accounts and failed to disclose that the transactions were with related parties. To read the original release click here.
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Posted by Celan Bryant
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