SEC Goes After Pumpers and Dumpers

WASHINGTON (CN) — The SEC on Wednesday filed enforcement actions against Windsor Street Capital, for failing to file suspicious transaction reports, and stock financiers who are separately accused of running a pump-and-dump scheme.

In a cease-and-desist order the SEC accused Windsor Street fka Meyers Associates L.P., and its former anti-money laundering officer John D. Telfer of failing to report $24.8 million in suspicious transactions.

Some of the suspicious transactions occurred in accounts controlled by microcap stock financiers Raymond H. Barton and William G. Goode, who were charged separately, the SEC said.

The administrative action against Windsor and Telfer will proceed to a public hearing before an administrative law judge, who will recommend what, if any, further actions are needed.

The separate action against Barton, Goode and three others was filed with a federal judge in Brooklyn.

They are accused of running a pump-and-dump scheme by buying shares of dormant shell companies supposedly in the dietary supplement business, pumping them in “news” releases and dumping the shares at inflated prices.

Barton and Goode and Matthew C. Briggs agreed to pay $8.7 million disgorgement, penalties and interest. Kenneth Manzo agreed to admit wrongdoing and pay more than $95,000 to settle the charges. Justin Sindleman will fight the charges.

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