2023-01-20 sec-litreleases litigation_release 65 KB 1,550 chars

SEC v. Abraham "Avi" Mirman; and Robert Donald Bruce Genovese, No. LR-25620, Southern District of New York (Jan. 20, 2023) — Press Release

raw: Robert Donald Bruce Genovese, et al.

Robert Donald Bruce Genovese, et al., No. LR-25620 (S.D.N.Y. Jan. 20, 2023)

Caption
SEC v. Abraham "Avi" Mirman, et al.
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summary

Abraham 'Avi' Mirman, former head of investment banking at John Thomas Financial, secured a final judgment for aiding a Liberty Silver Corp. stock inflation scheme and unregistered offerings.

paragraph

Abraham 'Avi' Mirman was charged with aiding and abetting a scheme to artificially inflate Liberty Silver Corp. stock prices while failing to disclose the sale of 6.6 million shares to retail customers. The SEC also charged him with participating in non-exempt unregistered offerings of additional shares. Mirman's final judgment includes a three-year penny stock bar and total payments exceeding $530,000 in disgorgement, interest, and penalties.

narrative

The SEC obtained a final consent judgment against Abraham 'Avi' Mirman, the former head of investment banking at the defunct broker-dealer John Thomas Financial, Inc. Mirman was involved in a scheme to artificially inflate the stock price of Liberty Silver Corp. while failing to disclose the sale of 6.6 million shares to retail customers. Additionally, he participated in non-exempt unregistered offerings of Liberty Silver shares. Without admitting or denying the allegations, Mirman consented to a three-year penny stock bar and an injunction against future violations of the Securities Act of 1933. The financial resolution requires him to pay $278,519.45 in disgorgement, $127,006.15 in prejudgment interest, and a $125,000 civil penalty. The litigation was overseen by Thomas P. Smith, Jr. and conducted by a team of SEC attorneys.

Enriched metadata

Scheme
market-manipulation (95%)
Court
Southern District of New York
Outcome
settled
Disgorgement
$278,519
Civil penalty
$125,000
Entity
Abraham "Avi" Mirman
Classified market-manipulation(confidence 95%). EDGAR detection: forms SC 13D/G/13F· recall 53% / precision 9%. detection rule →
Statutes
Sections 5(a), 5(c) and 17(a)(3) of the Securities ActSections 5(a), 5(c) and 17(a)(3) of the Securities ActSections 5(a), 5(c) and 17(a)(3) of the Securities ActSections 5(a), 5(c) and 17(a)(3) of the Securities Act
Parties
Securities and Exchange CommissionAbraham "Avi" MirmanRobert Donald Bruce Genovese
Keywords
robert donalddonald brucebruce genoveseliberty silvermirmanformer headhead investmentinvestment bankingpenny stocksilver shareslibertyrobertdonaldbrucegenovese

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 3
  • $279K $278,519 $100K–$1M
  • $127K $127,006 $100K–$1M
  • $125K $125,000 $100K–$1M
Entities 7
  • person abraham mirman
  • person derek m. schoenmann
  • person final consent judgment
  • person final judgment
  • person jack kaufman
  • agency Securities and Exchange Commission
  • court united states district court for the southern district of new york
Triples 16
  • Securities And Exchange Commission obtains final judgment
  • United States District Court For The Southern District Of New York entered final consent judgment
  • Securities And Exchange Commission charged Abraham Mirman and another defendant
  • Abraham Mirman aided and abetted others to artificially inflate Liberty Silver stock price
  • Abraham Mirman failed to disclose sale of 6.6 million Liberty Silver shares
  • Abraham Mirman substantially participated in non-exempt unregistered offerings
  • Abraham Mirman consented to entry of final judgment
  • final judgment enjoins Abraham Mirman from future violations
  • final judgment imposes three year penny stock bar
  • final judgment orders Abraham Mirman to pay disgorgement
  • final judgment orders Abraham Mirman to pay prejudgment interest
  • final judgment orders Abraham Mirman to pay civil penalty
  • Jack Kaufman conducted litigation
  • Nancy a. Brown conducted litigation
  • Derek M. Schoenmann conducted litigation
  • Thomas P. Smith, Jr. supervised litigation
PDF (from attached: complaint)
SEC v. ROBERT · Source
Text layers
Extracted body text (1,550c) 
SEC Obtains Final Judgment Against Former Head of Investment Banking At Defunct Broker-Dealer Litigation Release No. 25620 / January 20, 2023 Securities and Exchange Commission v. Robert Donald Bruce Genovese, et al., No. 17-cv-5821 (S.D.N.Y. filed August 1, 2017) On January 20, 2023, the United States District Court for the Southern District of New York entered a final consent judgment against Abraham "Avi" Mirman, the former head of investment banking at now-defunct New York broker-dealer John Thomas Financial, Inc. (JTF). The SEC charged Mirman and another defendant in 2017 with involvement in a scheme concerning Liberty Silver Corp., a penny stock, in which Mirman aided and abetted others to artificially inflate Liberty Silver's stock price while failing to disclose the sale of 6.6 million Liberty Silver shares to JTF's retail customers, and substantially participated in non-exempt unregistered offerings of additional Liberty Silver shares. Without admitting or denying the SEC's allegations, Mirman consented to the entry of a final judgment that enjoins him from future violations of Sections 5(a), 5(c) and 17(a)(3) of the Securities Act of 1933, and imposes a three year penny stock bar pursuant to Securities Act Section 20(g). The judgment further orders Mirman to pay disgorgement in the amount of $278,519.45, plus prejudgment interest of $127,006.15, and a civil penalty of $125,000. The litigation was conducted by Jack Kaufman, Nancy A. Brown, and Derek M. Schoenmann, and supervised by Thomas P. Smith, Jr. SEC Complaint
OCR text (1,550c · html-text · 99% conf) 
SEC Obtains Final Judgment Against Former Head of Investment Banking At Defunct Broker-Dealer Litigation Release No. 25620 / January 20, 2023 Securities and Exchange Commission v. Robert Donald Bruce Genovese, et al., No. 17-cv-5821 (S.D.N.Y. filed August 1, 2017) On January 20, 2023, the United States District Court for the Southern District of New York entered a final consent judgment against Abraham "Avi" Mirman, the former head of investment banking at now-defunct New York broker-dealer John Thomas Financial, Inc. (JTF). The SEC charged Mirman and another defendant in 2017 with involvement in a scheme concerning Liberty Silver Corp., a penny stock, in which Mirman aided and abetted others to artificially inflate Liberty Silver's stock price while failing to disclose the sale of 6.6 million Liberty Silver shares to JTF's retail customers, and substantially participated in non-exempt unregistered offerings of additional Liberty Silver shares. Without admitting or denying the SEC's allegations, Mirman consented to the entry of a final judgment that enjoins him from future violations of Sections 5(a), 5(c) and 17(a)(3) of the Securities Act of 1933, and imposes a three year penny stock bar pursuant to Securities Act Section 20(g). The judgment further orders Mirman to pay disgorgement in the amount of $278,519.45, plus prejudgment interest of $127,006.15, and a civil penalty of $125,000. The litigation was conducted by Jack Kaufman, Nancy A. Brown, and Derek M. Schoenmann, and supervised by Thomas P. Smith, Jr. SEC Complaint

Related documents (1)