2024-01-18 sec-litreleases litigation_release 64 KB 1,606 chars

SEC v. J. Jeremy Barbera; Carl Smith; and Nanobeak Biotech Inc., No. LR-25927, Southern District of New York (Jan. 18, 2024) — Press Release

raw: J. Jeremy Barbera, et. al.

J. Jeremy Barbera, et. al., No. 1:20-cv-10353 (S.D.N.Y. Jan. 18, 2024)

Caption
Securities and Exchange Commission v. Barbera
Source PDF JSON
summary

Stock promoter Carl Smith entered a final consent judgment for his role in a fraudulent scheme to raise $3.6 million for Nanobeak Biotech Inc. using misleading statements.

paragraph

Carl Smith was ordered to pay a $100,000 civil penalty, $173,875 in disgorgement, and $23,470.59 in prejudgment interest. The SEC charged him with violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act. The court also entered a permanent injunction against Smith for future violations of these securities laws.

narrative

The U.S. District Court for the Southern District of New York entered a final consent judgment against stock promoter Carl Smith for his involvement in a fraudulent scheme. Between December 2015 and December 2019, Smith assisted Nanobeak Biotech Inc. and its former CEO, Jeremy Barbera, in using false and misleading statements to sell securities. The scheme successfully solicited at least 37 investors, raising approximately $3.6 million. Smith was permanently enjoined from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934. To resolve the charges, Smith was ordered to pay a $100,000 civil money penalty. Additionally, he must pay $173,875 in disgorgement plus $23,470.59 in prejudgment interest.

Enriched metadata

Scheme
pump-and-dump (92%)
Court
Southern District of New York
Case No.
1:20-cv-10353
Outcome
settled
Disgorgement
$173,875
Civil penalty
$100,000
Victim loss
$3,600,000
Victims
37
Entity
Carl Smith
Classified pump-and-dump(confidence 92%). EDGAR detection: forms S-8/S-1/424B/8-K· recall 69% / precision 12%. detection rule →
Statutes
Section 17(a) of the Securities ActSection 10(b) of the Securities Exchange ActRule 10b-5
Parties
Securities and Exchange CommissionJ. Jeremy BarberaNanobeak Biotech Inc.Carl Smith
Keywords
jeremy barberasmithsecuritiessecurities exchangecarl smithbarberajeremysecfinalnanobeakdecemberexchange commissionnanobeak biotechexchangelitigation

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 4
  • $3.60M $3.6 million $1M–$10M
  • $174K $173,875 $100K–$1M
  • $100K $100,000 $100K–$1M
  • $23K $23,470 $10K–$100K
Entities 6
  • person carl smith
  • person final judgment
  • person jeremy barbera
  • company nanobeak biotech inc.
  • agency Securities and Exchange Commission
  • court u.s. district court for the southern district of new york
Triples 9
  • U.S. Securities And Exchange Commission Obtains Final Judgment Carl Smith
  • U.S. District Court For The Southern District Of New York Entered Final Consent Judgment Carl Smith
  • Nanobeak Biotech Inc. Solicited And Sold Securities Nanobeak Securities Using False And Misleading Statements
  • Jeremy Barbera Solicited And Sold Securities Nanobeak Securities Using False And Misleading Statements
  • Nanobeak Biotech Inc. And Jeremy Barbera With The Help Of Carl Smith Sold Securities To At Least 37 Investors Raising Approximately $3.6 Million
  • Carl Smith Consented To Entry Of Final Judgment Permanent Enjoinment From Violating Section 17(a) Of The Securities Act Of 1933 And Section 10(b) Of The Securities Exchange Act Of 1934 And Rule 10b-5
  • Final Judgment Ordered Carl Smith To Pay Civil Money Penalty Of $100,000 And Disgorgement Of $173,875 Plus $23,470.59 In Prejudgment Interest
  • Securities And Exchange Commission Litigation Conducted By Paul Gizzi, Christopher M. Castano, Gerald Gross, Melissa Coppola
  • Securities And Exchange Commission Litigation Supervised By Thomas P. Smith, Jr. Of The New York Regional Office
PDF (from attached: judgment)
Stipulation and Order · Source
Text layers
Extracted body text (1,606c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25927 / January 18, 2024 Securities and Exchange Commission v. J. Jeremy Barbera, et. al., No. 1:20-cv-10353 (S.D.N.Y. Jan. 8, 2024) SEC Obtains Final Judgment Against Defendant Carl Smith For Fraudulent Scheme On January 8, 2024, the U.S. District Court for the Southern District of New York entered a final consent judgment against stock promoter Carl Smith for misrepresentations he made to investors while raising funds for Nanobeak Biotech Inc. According to the SEC’s complaint, filed on December 9, 2020, between at least December 2015 and December 2019, Nanobeak Biotech Inc. and its former CEO, Jeremy Barbera, solicited and sold Nanobeak securities using false and misleading statements. During this period, Nanobeak and Barbera, with the help of Smith, sold securities to at least 37 investors, raising a total of approximately $3.6 million. Smith consented to the entry of a final judgment permanently enjoining him from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The final judgment also ordered Smith to pay a civil money penalty of $100,000, and ordered disgorgement of $173,875, plus $23,470.59 in prejudgment interest. The SEC’s litigation was conducted by Paul Gizzi, Christopher M. Castano, Gerald Gross, and Melissa Coppola, and supervised by Thomas P. Smith, Jr. of the New York Regional Office. For further information, see https://www.sec.gov/litigation/litreleases/lr-24978, December 9, 2020. Judgment – Carl Smith
OCR text (1,606c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25927 / January 18, 2024 Securities and Exchange Commission v. J. Jeremy Barbera, et. al., No. 1:20-cv-10353 (S.D.N.Y. Jan. 8, 2024) SEC Obtains Final Judgment Against Defendant Carl Smith For Fraudulent Scheme On January 8, 2024, the U.S. District Court for the Southern District of New York entered a final consent judgment against stock promoter Carl Smith for misrepresentations he made to investors while raising funds for Nanobeak Biotech Inc. According to the SEC’s complaint, filed on December 9, 2020, between at least December 2015 and December 2019, Nanobeak Biotech Inc. and its former CEO, Jeremy Barbera, solicited and sold Nanobeak securities using false and misleading statements. During this period, Nanobeak and Barbera, with the help of Smith, sold securities to at least 37 investors, raising a total of approximately $3.6 million. Smith consented to the entry of a final judgment permanently enjoining him from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The final judgment also ordered Smith to pay a civil money penalty of $100,000, and ordered disgorgement of $173,875, plus $23,470.59 in prejudgment interest. The SEC’s litigation was conducted by Paul Gizzi, Christopher M. Castano, Gerald Gross, and Melissa Coppola, and supervised by Thomas P. Smith, Jr. of the New York Regional Office. For further information, see https://www.sec.gov/litigation/litreleases/lr-24978, December 9, 2020. Judgment – Carl Smith

Related documents (1)