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Thursday, February 12, 2015

SEC Charged 5 Cayman Island-based Entities With Selling $75M in Securities Illegally

On Feb. 11, 2015, the SEC charged five entities with the offering and selling of unregistered penny stocks.  First issued on Feb. 6, 2015, the complaint is against Cayman Islands-based, Caledonian Bank Ltd. and Caledonian Securities Ltd., Belize-based, Clear Water Securities, Inc. and Legacy Global Markets S.A., and Panama-based, Verdmont Capital S.A. It alleges that the five entities sold over $75 million in illegal securities from four shell company issurers, namely, Swingplane Ventures (OTC BB: SWVI:), Goff Corp. (OTC: GOFF), Norstra Energy Inc. (OTCMKTS: NORX) and Xumanii, Inc (OTC: XUII). To read the original press release click here.

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