SEC v. Todd Zinkwich, No. LR-25615, District of Massachusetts (Jan. 17, 2023) — Press Release
raw: Todd Zinkwich
Todd Zinkwich, No. 1:20-cv-11746 (Jan. 17, 2023)
The SEC obtained a final judgment against Florida resident Todd Zinkwich for orchestrating a microcap stock manipulation scheme that resulted in permanent injunctions and a reduced $12,000 payment.
Todd Zinkwich was charged with orchestrating a scheme to manipulate microcap stocks by generating false demand through coordinated trades. The SEC alleged that Zinkwich received hundreds of thousands of dollars to facilitate the fraud, allowing clients to sell millions of shares at inflated prices. The court ordered Zinkwich to pay over $300,000 in disgorgement and interest, though the amount was waived except for $12,000 due to his financial condition.
The U.S. District Court in Boston entered a final judgment by consent against Florida resident Todd Zinkwich for his role in a microcap stock manipulation scheme. Between June 2017 and March 2018, Zinkwich received hundreds of thousands of dollars from groups to artificially drive up demand for certain stocks. He worked with associate Eric Landis to place thousands of trades across numerous controlled accounts to create a false appearance of market interest. This manipulation allowed Zinkwich's clients to sell millions of shares at inflated prices. Zinkwich was charged with violating antifraud and market manipulation provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The final judgment permanently enjoins him from future violations and prohibits him from participating in any penny stock offerings. While the court ordered over $300,000 in disgorgement and interest, Zinkwich's payment was limited to $12,000 due to his financial condition.
Exhibits & Attached Documents (1)
Extracted insights
- $300K $300,000 $100K–$1M
- $12K $12,000 $10K–$100K
- person eric landis
- person final judgment
- person manipulative trading scheme
- person microcap stocks
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- person todd zinkwich
- court u.s. district court
- organization U.S. District Court
- Securities And Exchange Commission obtained judgment against Todd Zinkwich
- Todd Zinkwich paid hundreds of thousands of dollars
- Todd Zinkwich manipulated microcap stocks
- Eric Landis generated appearance of increased demand
- Securities And Exchange Commission charged Todd Zinkwich and Eric Landis
- Todd Zinkwich consented to final judgment
- U.S. District Court entered final judgment against Todd Zinkwich
- Todd Zinkwich paid $12,000
- Securities And Exchange Commission alleged manipulative trading scheme
SEC Obtains Judgment Against Florida Man in Microcap Fraud Litigation Release No. 25615 / January 17, 2023 Securities and Exchange Commission v. Todd Zinkwich, No. 1:20-cv-11746 (D. Mass. filed Sept. 24, 2020) On January 12, 2023, the U.S. District Court in Boston entered a final judgment by consent against Florida resident Todd Zinkwich, whom the SEC charged for engaging in a scheme to manipulate the market for numerous microcap stocks. The District Court had previously entered a partial judgment against Zinkwich, imposing multiple injunctions against him. According to the SEC's complaint, from at least June 2017 to March 2018, individuals and groups who held large quantities of microcap stocks paid Zinkwich hundreds of thousands of dollars to facilitate a scheme to drive up demand for the stocks of certain issuers. As alleged in the complaint, Zinkwich arranged for his associate Eric Landis to generate an appearance of increased demand for the stocks by placing thousands of trades between numerous accounts under Landis's control, including accounts that Zinkwich controlled and gave Landis access to. The Commission separately charged and obtained a final judgment against Landis for his role in the fraud. In the complaints against Zinkwich and Landis, the SEC alleged that the manipulative trading scheme generated the false appearance of an upsurge of trading in the companies' stock and allowed Zinkwich's clients to sell millions of shares of stock into the public market at inflated prices. Zinkwich has consented to a final judgment that permanently enjoins him from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and the market manipulation and antifraud provisions of Sections 9(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and from participating in any offering of penny stock. The final judgment also orders Zinkwich to pay over $300,000 in disgorgement and prejudgment interest, and based on Zinkwich's financial condition waives payment except $12,000. Judgment
SEC Obtains Judgment Against Florida Man in Microcap Fraud Litigation Release No. 25615 / January 17, 2023 Securities and Exchange Commission v. Todd Zinkwich, No. 1:20-cv-11746 (D. Mass. filed Sept. 24, 2020) On January 12, 2023, the U.S. District Court in Boston entered a final judgment by consent against Florida resident Todd Zinkwich, whom the SEC charged for engaging in a scheme to manipulate the market for numerous microcap stocks. The District Court had previously entered a partial judgment against Zinkwich, imposing multiple injunctions against him. According to the SEC's complaint, from at least June 2017 to March 2018, individuals and groups who held large quantities of microcap stocks paid Zinkwich hundreds of thousands of dollars to facilitate a scheme to drive up demand for the stocks of certain issuers. As alleged in the complaint, Zinkwich arranged for his associate Eric Landis to generate an appearance of increased demand for the stocks by placing thousands of trades between numerous accounts under Landis's control, including accounts that Zinkwich controlled and gave Landis access to. The Commission separately charged and obtained a final judgment against Landis for his role in the fraud. In the complaints against Zinkwich and Landis, the SEC alleged that the manipulative trading scheme generated the false appearance of an upsurge of trading in the companies' stock and allowed Zinkwich's clients to sell millions of shares of stock into the public market at inflated prices. Zinkwich has consented to a final judgment that permanently enjoins him from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and the market manipulation and antifraud provisions of Sections 9(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and from participating in any offering of penny stock. The final judgment also orders Zinkwich to pay over $300,000 in disgorgement and prejudgment interest, and based on Zinkwich's financial condition waives payment except $12,000. Judgment