Feds filed charges in Mass. in penny stock probe
Thursday, December 1, 2011
BOSTON (AP) -- Federal authorities have suspended trading by seven firms and filed criminal charges in Boston against 13 people from 10 states who allegedly used fraud to spur investments in penny stocks.
The federal action Thursday was the latest is a yearlong investigation by the U.S. Attorney's Office in Boston.
The Securities and Exchange Commission suspended these firms: 1st Global Financial Inc. of Las Vegas, Augrid Global Holdings Corp. of Houston, ComCam International Inc. of West Chester, Pa., MicroHoldings US Inc. of Vancouver, Wash., Outfront Companies based in Florida, Symbollon Corp./Symbollon Pharmaceuticals Inc. of Medfield, Mass., and ZipGlobal Holdings Inc. of Hingham, Mass.
An Outfront Companies official said Thursday he did not know about the SEC suspension. The other companies did not immediately respond to messages seeking comment.