SEC Charges Advisor For Funneling $17M Into Penny Stocks

The Securities and Exchange Commission (SEC) charged Interinvest Corporation, Inc. and its founder Hans Peter Black for investing over $17 million of client assets in penny stocks without disclosing his business and financial interests. According to the agency, the alleged fraud resulted in unrealized losses of over $12 million in Interinvest client accounts.

Black invested in four Canadian companies
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