SEC brings charges against promoters of fake global warming company

The Daily Caller says the Securities and Exchange Commission has filed civil fraud charges against seven people associated with a London-based company called CO2 Tech that said it was fighting global warming. Really, according to the SEC, the company was a sham that was used as a vehicle for a pump-and-dump scheme orchestrated by a Costa Rican company called Red Sea Management. In all, the SEC says the defendants raked in nearly $7 million in illegal profits by manipulating CO2 Tech’s share price through false press releases, manipulative trading and other techniques. Among other things, the releases claimed nonexistent relationships with legitimate companies, including Boeing Co. Named in the suit are Jonathan Curshen; David Ricci and Ronny Salazar, from Costa Rica; Ariav Weinbaum and Yitzchak Zigdon of Israel; Robert Weidenbaum and Michael Krome. Federal prosecutors have also brought criminal charges against everyone in the group except Ricci.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>