| Jason Jadidian (Tecton, Norman Meier) |
| Stock Scam - Pump and Dump |
| 5th of Nov, 2011 by sheigel |
Jason Jadidian
http://www.sec.gov/litigation/litreleases/2011/lr21919.htm
.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21919 / April 6, 2011
Securities and Exchange Commission v. Jason Jadidian, Civil Action No. 08 Civ. 8079 (PGG) (S.D.N.Y.)
COURT FINES PROMOTER JASON JADIDIAN $50,000 FOR TECTON STOCK MANIPULATION SCHEME
The Securities and Exchange Commission today announced that on March 31, 2011, the Honorable Paul G. Gardephe of the United States District Court for the Southern District of New York granted in part the Commission’s motion for summary judgment against defendant Jason Jadidian, and issued a final judgment finding Jadidian liable for violations of Sections 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The court imposed a $50,000 civil penalty against Jadidian, a resident of Cliffside Park, New Jersey.
The Commission’s complaint, filed on September 18, 2008, alleged that Jadidian, a stock promoter, engaged in a fraudulent broker-bribery scheme designed to manipulate the market for the common stock of Tecton Corporation. The complaint charged Jadidian with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
After considering the undisputed facts, the court found a clear record of Jadidian’s violations of the anti-fraud provisions of the federal securities laws and imposed a $50,000 civil penalty. The court declined to impose injunctive relief or issue a penny stock bar.
See Litigation Release No. 20777 (Oct. 8, 2008).
In 2009, Jason Jadidian was given probation for three years and fined $10,000 for paying an undercover FBI agent to purchase shares of Tecton Corp. (The criminal complaint is here and the Vancouver Sun article about it is here). The president of Tecton, Norman Meier, is also the CEO of Hemis Corp.
http://datatoinformation.wordpress.com/tag/mantra-venture-group/
In another "test transaction," the undercover agent bought 80,000 shares for a total of $18,672, for an average of 23 cents per share. Jadidian subsequently wired the agent a $5,000 kickback through a third party. The stock has since slumped to one-tenth of a cent.
Tecton went public on the OTC Bulletin Board last year as an exploration company, with properties in B.C. and Saskatchewan.
The company's president is Norman Meier, a former Canaccord Capital broker who claims to have PhD in Human Behaviour from Newport University in Switzerland.
The company's filing solicitor is Penny Green of the Bacchus Law Group in Vancouver. Green has helped numerous companies go public on the pink sheets and bulletin board on extremely dubious business premises. Most have ended badly for investors.
http://www.canada.com/vancouversun/news/business/story.html?id=33a12a0a-02d9-48f0-9ef0-e331597a6900 |
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| Dear sheigel - " Boiler Room" ? I think maybe you are watching too many Hollywood movies. Clearly with all your slander posts, you are an angry person but I recommend channeling your energy and focus somewhere else. You are trashing people all over this forum, if you do not properly understand how these companies work ( and clearly you do not) and how investing in general works then it is wiser for you to take a gamble in Vegas or with your local lottery or even better yet put your money where you mouth is and just shut it. It is clear you do not know what you are talking about! You assume things to be factual - and we all know how the saying goes - ' when you assume, you make an ass out of yourself... ' |
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All data and information provided on this post is for informational purposes only. sheigel makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this post and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. |
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The Information should not be construed as investment/trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned. For personal advice on your trading decisions, please consult with your financial advisors.
The Information should not be used as the sole basis for making any trading decision. Rather, readers should use the Information as a starting point for doing additional research on the companies mentioned in order to allow the reader to form his or her own opinion. Such research should include, but is not limited to, each company's quarterly and annual reports, all SEC filings, and press releases. If you should ignore my advice to do independent research of industries, companies, and stocks, choosing instead to trade solely on my information, or opinions found in this Information, you have made a conscious, willing, free, and personal decision to do so.
I also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at http://www.sec.gov/consumer/cyberfr.htm Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site. |
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