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 The SEC announced fraud charges against Interinvest Corporation and Black on Wednesday. The SEC said the firm and its owner invested over $17 million worth of client assets in penny stocks while failing to disclose at the time that he served on the board…
SEC Charges Advisor For Funneling $17M Into Penny Stocks
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports