SEC Continues Sweep With Charges In A New Pump-And-Dump Scheme

In its continuing effort to fight fraud that is all too common in the micro-cap market, the Securities and Exchange Commission has charged eight people with fraud in a penny stock pump-and-dump scheme involving a California company currently known as Gepco Inc that has changed its name and line of business several times in the last couple of years. “Microcap fraud is a scourge on our markets, and we are aggressively pursuing scurrilous penny stock schemers who make their living by preying upon innocent investors,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office in a statement….