WASHINGTON (CN) - Sure Trace Security Corp., its CEO Peter Leeuwerke and president Michael Cimino issued fraudulent press releases and repeatedly tried to evade registration requirements, the SEC claims in Federal Court.
Defendant Cimino is not the movie director of the same name. The SEC claims the defendants lied about their unfinished product, lied about issuing stock options to so-called employees and consultants - doing so to create the appearance of a market for the stock - and lied about the supposedly imminent acquisition of Sensor Media Corp. Sure Trace claims to have thumbprint identification and solar panel technology. The SEC demands $1.1 million and fines, in Federal Court. See complaint.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.