SEC settles two lawsuits against Coppell man
Headline News
The Securities and Exchange Commission settled two civil lawsuits Tuesday against a North Texas stock promoter allegedly involved in so-called pump-and-dump market manipulation scams.
One suit is still pending against five other people and one company.
The complaints allege that Coppell accountant Mark B. Lindberg, 40, helped market a series of penny stocks and, along with other defendants, reaped millions of dollars by releasing false information to pump up the share price.
In settling the cases, Mr. Lindberg neither admitted nor denied the allegations. He has agreed to a permanent injunction and is barred from being an officer or director. He also agreed to not be involved in penny stocks.
The initial suit involves an Irving company called Sniffex that Mr. Lindberg helped take public.
The company, which marketed a bomb detection device, is now called Homeland Safety International Inc. and was controlled primarily by two Bulgarians.
The complaint also names president Paul B. Johnson of Colleyville, who could not be reached for comment Tuesday, and two investors from Denmark. The suit still seeks penalties against the defendants other than Mr. Lindberg.
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