Civil Litigation
Aug. 28, 2017
SEC seeks millions from alleged pump-and-dump conspirator
The defendant says he should pay no more than $300,000, the Securities and Exchange Commission says no less than $26 million.
The Securities and Exchange Commission argued Friday that a man found liable of orchestrating a $78 million pump-and-dump scheme is seeking a “slap on the wrist” when he should be made to pay millions.
Defendant Wayne Weaver was one of several offshore entity operators who allegedly helped fraudulently raise the stock value of Jammin Java Corp., a coffee shop owned by the son of Bob Marley. The SEC claims Weaver helped the shop’s fo...
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