Steve Benger International Boiler Scheme


IN THE UNITED STATES DISTRICT COURT

I. The Alleged "Boiler Room" Scheme The alleged scheme began when the Distribution Agents entered into agreements with various issuers of Regulation S securities.2 Under the distribution agreements, the Distribution 1(continued) aiding and abetting violations of Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b), and SEC Rule

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Benger Fair Fund

Dec 20, 2011 · The action alleged that the Defendants engaged in an ongoing boiler room scheme run from their residences and offices in Chicago. From at least March 2007 through February 2009, that scheme raised approximately $44.2 million from more than 1,400 foreign investors, primarily through the sale of U.S. penny stocks.

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SEC Ends Boiler Room Scheme - WSJ

Feb 04, 2009 · Feb. 4, 2009 4:02 pm ET. Print. Text. The Securities and Exchange Commission said Wednesday it halted an alleged international boiler room scheme that …

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Complaint: Stefan H. Benger, SHB Capital, Inc., Jason B

ongoing international boiler room scheme run by and through Defendants from their . residences and offices in Chicago. Since March 2007, Defendants' scheme has raised at . least $44.2 million from more than 1,400 foreign investors, primarily through the sales of . U.S. penny stocks. The success of Defendants' scheme depends on the concealment from

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Initial Decision: Stefan H. Benger

Answer at 1. Benger and others operated an international boiler room scheme that raised approximately $44.2 million from more than 1,400 investors, primarily through the sales of U.S. penny stocks. Div. Ex. A at 1.Benger was president of SHB Capital, Inc. (SHB), through which he acted as distribution agent for several of the boiler room offerings.

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SEC Halts Massive International Boiler Room Scheme

Feb 04, 2009 · Washington, D.C., Feb. 4, 2009— The Securities and Exchange Commission has taken emergency action to stop a massive and ongoing international boiler room scheme that allegedly sold shares of U.S. penny stock issuers to investors located in Europe by misrepresenting that investors paid no sales commissions. The SEC alleges that, in fact, investors paid commissions exceeding 60 …

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SEC Says Chicago Men Bilk Foreign Investors – Courthouse

Feb 04, 2009 · SEC Says Chicago Men Bilk Foreign Investors. CHICAGO (CN) – Stefan Benger, SHB Capital, Jason Meyers, and International Capital Financial Resources defrauded more than 1,400 investors by taking $44.2 million from them for penny stocks without revealing that more than 60% of the money went to pay "sales commissions," the SEC claims in

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Securities Law Prof Blog

Feb 04, 2009 · The SEC charged Chicago residents Stefan H. Benger, Jason B. Meyers, Frank I. Reinschreiber, and Philip T. Powers as well as four entities through which they operated the boiler room scheme…

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Jobs saved following sale of Vanguard VML Group - FRP Advisory

Oxygen owners Mark Andrews and Steve Benger are delighted to be able to acquire such a well-established brand, with a highly skilled work-force respected in the sector for their quality of work and service. Steve Benger commented, "We are excited about the prospects for the new company and look forward to working with the team going forward."

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Ex-SEC Employee Denies Role In Boiler Room Scam - Law360

By Ian Thoms. Law360 (September 15, 2010, 6:13 PM EDT) -- Former U.S. Securities and Exchange employee Steven Kimmel has pled not guilty to charges that he participated in a boiler room scheme

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U.S. S.E.C. v. BENGER | 931 F.Supp.2d 901 (2013

Mar 21, 2013 · The Securities Exchange Commission ("SEC") claims that the defendants engaged in an international boiler room scheme targeting some 1400 foreign investors. The scheme took in approximately $44 million primarily through the sale of U.S. penny stock. It is alleged that of the proceeds, the defendants skimmed 60% for themselves and the foreign

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Stefan H. Benger, et al.: Lit. Rel. No. 20881 / February 4

Commission Halts Massive International Boiler Room Scheme. The Securities and Exchange Commission has taken emergency action to stop a massive and ongoing international boiler room scheme that allegedly sold shares of U.S. penny stock issuers to investors located in Europe by misrepresenting that investors paid no sales commissions. The SEC alleges that, in fact, investors paid …

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United States Securities and Exchange Commission v. Benger

United States Securities and Exchange Commission v. Benger et al, No. 1:2009cv00676 - Document 557 (N.D. Ill. 2015) case opinion from the Northern District of Illinois U.S. Federal District Court

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MEMORANDUM OPINION AND ORDER INTRODUCTION

Feb 15, 2013 · international boiler room scheme targeting some 1400 foreign investors. The alleged scheme took in approximately $44 million primarily through the sale of penny stock to foreign purchasers. Of the proceeds, the defendants skimmed 60% as commissions for themselves and the foreign boiler room operators whom they hired. The companies the

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IN THE UNITED STATES DISTRICT COURT FOR THE …

1. The defendants' international boiler room scheme was as lucrative as it . was stealthy. It raised approximately $44.2 million from more than 1,400 foreign . investors, primarily through the sales of U.S. penny stocks. It was lucrative for . defendants because they diverted more than 60% of that sum to themselves and the

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Dismissal of Boiler Room Claims Raises 'Good' Question of

May 09, 2013 · The recent dismissal of Securities and Exchange Commission allegations over an alleged $44 million international boiler-room scheme raised a 'good" question as to whether the congressional fix to restore the agency's extraterritorial enforcement authority is too narrow, a senior official said May 9. In SEC v. Benger, the U.S. District Court

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UNITED STATES BANKRUPTCY COURT FOR PUBLICATION …

that accused Kovachev of participating in a $28 million "boiler-room" Ponzi scheme that marketed fake timeshares to the elderly, and involved the preparation of forged documents used to dupe investors. According to the SEC complaint, Kovachev asserted his Fifth Amendment right against

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