Miami, FL-DOJ Charges Two With Securities Fraud

Miami, FL-DOJ Charges Two With Securities Fraud

Miami, FL-DOJ Charges Two With Securities Fraud 150 150 Robert Rex, Esq.

July 2016-Miami, Florida

The Department of Justice announced that stock promoters Daniel McKelvey, 49, of Foster City, CA and Jeffrey L. Lamson, 51, of El Dorado Hills, CA, have been charged with conspiracy to commit securities fraud in connection with a fraudulent scheme to register shell companies with the SEC, issue shares in the companies that they and other co-conspirators secretly own and then sell the share to the investing public at a profit.

McKelvey and Lamson face up to five years in prison and a fine up to $250,000.

In April 2015, the Miami Regional office of the SEC filed a related civil action against McKelvey and Lamson and 8 other individuals involved in the scheme to offer and sell penny stock in undisclosed companies, which the SEC describes as a ‘blank check’ companies.

Others named in the previously filed civil action are:

  • Steven Sanders, Lake Worth, FL
  • Alvin Mirman, Sarasota, FL
  • Edward G. Sanders, Coral Springs, FL
  • Scott F. Hughes, Duluth, GA

Four others who acted as figurehead officers and directors settled SEC charges in separate administrative proceedings:

  • Edward T. Farmer, Sarasota, FL
  • William J. Gaffney, Cumming, GA
  • Kevin D. Miller, Alpharetta, GA
  • Ronald A. Warren, Peachtree Corners, GA

They consented to SEC orders without admitting or denying the findings that they violated the antifraud, reporting, recordkeeping, and internal control provisions of the federal securities laws. They are barred from serving as an officer or director of a public company and from participating in penny stock offerings, and they must disgorge ill-gotten gains plus prejudgment interest.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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