SEC v. Michael Luckhoo-Bouch; and Nelson Gomes, No. LR-25100, District of Massachusetts (May 28, 2021) — Press Release
raw: Gomes et al.
Gomes et al., No. 1:20-cv-11092 (May 28, 2021)
summary
Michael Luckhoo-Bouch received a final judgment and a five-year penny stock bar for his role in a $25 million microcap fraud scheme that leveraged false COVID-19 pandemic claims.
paragraph
Michael Luckhoo-Bouch was charged with violating securities registration and antifraud provisions in a scheme that generated over $25 million through illegal microcap stock sales. The scheme utilized misleading promotional campaigns, including false claims about COVID-19 medical mask production, to dump stock onto unsuspecting investors. Luckhoo-Bouch's final judgment included a $20,000 civil penalty and a five-year penny stock bar.
narrative
The SEC obtained a final judgment against Michael Luckhoo-Bouch for his involvement in a microcap fraud scheme led by Nelson Gomes that generated more than $25 million. The scheme involved concealing the identities of corporate control persons and using misleading promotions, such as false claims regarding COVID-19 medical supplies, to dump stock. Luckhoo-Bouch facilitated these sales by serving as a nominal director and making various misrepresentations. In addition to a $20,000 civil penalty, Luckhoo-Bouch consented to a five-year penny stock bar. Previously, five entity defendants in the case were ordered to pay approximately $12.9 million in penalties and disgorgement. The SEC continues to pursue the remaining defendants in the ongoing litigation.
Classified pump-and-dump(confidence 100%). EDGAR detection: forms S-8/S-1/424B/8-K· recall 69% / precision 12%. detection rule →
Statutes
Parties
Securities and Exchange CommissionAtlantean Management CorporationDouglas RoeNelson GomesKelly WarawaMeadow Asia LimitedFFS Capital LimitedArtefactor LimitedMichael Luckhoo-BoucheShane SchmidtThyme International LimitedPaifang Trading LimitedMichael Luckhoo-Bouch
Keywords
luckhoo-bouchfinalagainstsecuritiesgomesstockfinal againstcapitalize covid-covid- pandemicsecurities exchangemassachusetts enteredentered finalmichael luckhoo-bouchfraudulent schemeillegal sales
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 3
- $25.00M $25 million $10M–$100M
- $12.90M $12,895,750 $10M–$100M
- $20K $20,000 $10K–$100K
Entities 5
- person final judgment
- person final judgment against defendant
- person fraudulent scheme
- agency Securities and Exchange Commission
- court u.s. district court for the district of massachusetts
Triples 60
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- Michael Luckhoo-Bouch was defendant in fraudulent scheme generating more than $25 million
- Securities and Exchange Commission obtained final judgment against defendant in a microcap fraud scheme
- Michael Luckhoo-Bouch was involved in illegal sales of multiple microcap companies' stock
- Securities and Exchange Commission v. Gomes et al. was filed June 9, 2020
- Litigation Release No. 25100 was issued May 28, 2021
- SEC obtains final judgment against defendant
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- fraudulent scheme generated more than $25 million from illegal sales of multiple microcap companies' stock
- SEC obtains final judgment against defendant
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- fraudulent scheme generated more than $25 million from illegal sales of multiple microcap companies' stock
- SEC obtains final judgment against defendant
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- fraudulent scheme generate more than $25 million from illegal sales of multiple microcap companies' stock
- SEC obtained final judgment against Michael Luckhoo-Bouch
- Michael Luckhoo-Bouch charged with fraudulent scheme
- fraudulent scheme generated more than $25 million
- fraudulent scheme capitalized on Covid-19 pandemic
- SEC filed action against 11 defendants
- defendant Michael Luckhoo-Bouch entered final judgment U.S. District Court for the District of Massachusetts
- SEC obtains final judgment against defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million from illegal microcap stock sales
- Defendants engaged in fraudulent scheme involving illegal sales of microcap company stocks during the Covid-19 pandemic
- SEC filed action against 11 defendants for microcap fraud scheme
- SEC obtains final judgment against defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million from illegal microcap stock sales
- Defendants engaged in fraudulent scheme involving illegal sales of microcap company stocks during Covid-19 pandemic
- SEC filed action against 11 defendants for microcap fraud scheme in U.S. District Court for the District of Massachusetts
- SEC obtains final judgment against defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million from illegal microcap stock sales
- Defendants engaged in fraudulent scheme involving illegal sales of microcap company stocks during the Covid-19 pandemic
- SEC filed action against 11 defendants for microcap fraud scheme in U.S. District Court for the District of Massachusetts
- SEC obtains Final Judgment
- U.S. District Court for the District of Massachusetts entered final judgment
- Michael Luckhoo-Bouch alleged fraudulent scheme
- fraudulent scheme generated $25 million
- Michael Luckhoo-Bouch filed Civil Action No. 1:20-cv-11092
- SEC obtains final judgment against defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million
- Defendants engaged in fraudulent scheme involving illegal sales of microcap company stocks
- SEC filed action against 11 defendants for microcap fraud scheme exploiting Covid-19 pandemic
- SEC obtains final judgment defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million from illegal microcap stock sales
- SEC alleges fraudulent scheme involving 11 defendants and illegal sales of microcap company stock during Covid-19 pandemic
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch on May 26, 2021
- Defendants generated more than $25 million from illegal sales of microcap companies' stock
- SEC obtained final judgment against Michael Luckhoo-Bouch
- Michael Luckhoo-Bouch charged with fraudulent scheme
- defendants generated more than $25 million
- fraudulent scheme attempted to capitalize on Covid-19 pandemic
- SEC filed action against 11 defendants
- SEC obtains final judgment against defendant in a microcap fraud scheme
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- final judgment entered on May 26, 2021
- fraudulent scheme generated more than $25 million from illegal sales of multiple microcap companies' stock
- action filed June 9, 2020
- SEC v. Gomes et al. is litigation release No. 25100 dated May 28, 2021
- Michael Luckhoo-Bouch was defendant in action against 11 defendants
- SEC obtains final judgment against defendant Michael Luckhoo-Bouch in a microcap fraud scheme generating over $25 million from illegal microcap stock sales
- Defendants engaged in fraudulent scheme involving illegal sales of microcap company stock during the Covid-19 pandemic
- SEC filed action against 11 defendants for microcap fraud scheme
- SEC obtains final judgment against defendant in a microcap fraud scheme
- U.S. District Court for the District of Massachusetts entered final judgment against defendant Michael Luckhoo-Bouch
- fraudulent scheme generated more than $25 million from illegal sales of multiple microcap companies' stock
PDF (from attached: pdf)
Text layers
Extracted body text (2,583c)
SEC Obtains Final Judgment Against Defendant in a Microcap Fraud Scheme Attempting to Capitalize On the Covid-19 Pandemic Litigation Release No. 25100 / May 28, 2021 Securities and Exchange Commission v. Gomes et al.;, ivil Action No. 1:20-cv-11092 (D. Mass. filed June 9, 2020) On May 26, 2021, the U.S. District Court for the District of Massachusetts entered a final judgment against defendant Michael Luckhoo-Bouch in a previously-filed action against 11 defendants alleging a fraudulent scheme that generated more than $25 million from illegal sales of multiple microcap companies' stock. According to the Commission's complaint, beginning around January 2018, Canadian citizen Nelson Gomes, working with Canadian citizen Luckhoo-Bouch and others, ran a fraudulent business through which corporate control persons could conceal their identities while illegally dumping their company's stock into the market for purchase by unsuspecting investors. The complaint alleged that these illegal stock sales were often boosted by promotional campaigns that, in some instances, included false and misleading information designed to fraudulently capitalize on the COVID-19 pandemic, such as false claims that a company being promoted could produce medical quality facemasks. The complaint further alleged that Luckhoo-Bouch facilitated Gomes' and others' illegal sales by serving as the nominal director of a company, which allowed corporate control persons to conceal their identities, and also by making misrepresentations that facilitated the fraudulent scheme. On December 4, 2020, the U.S. District Court for the District of Massachusetts entered final judgments by default against five of the entity defendants that ordered them, among other things, to pay a total of $12,895,750 in civil penalties, disgorgement, and prejudgment interest. Without admitting or denying the allegations in the SEC's complaint, Luckhoo-Bouch consented to the entry of a final judgment enjoining him from violating the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and ordering him to pay a $20,000 civil penalty. In addition, Luckhoo-Bouch consented to a 5-year penny stock bar. The SEC's ongoing case against the other defendants is being handled by Trevor Donelan, Eric Forni, Kathleen Shields, J. Lauchlan Wash, and Amy Gwiazda in the Boston Regional Office. Final Judgment as to Michael Luckhoo-Bouch
OCR text (2,583c · html-text · 99% conf)
SEC Obtains Final Judgment Against Defendant in a Microcap Fraud Scheme Attempting to Capitalize On the Covid-19 Pandemic Litigation Release No. 25100 / May 28, 2021 Securities and Exchange Commission v. Gomes et al.;, ivil Action No. 1:20-cv-11092 (D. Mass. filed June 9, 2020) On May 26, 2021, the U.S. District Court for the District of Massachusetts entered a final judgment against defendant Michael Luckhoo-Bouch in a previously-filed action against 11 defendants alleging a fraudulent scheme that generated more than $25 million from illegal sales of multiple microcap companies' stock. According to the Commission's complaint, beginning around January 2018, Canadian citizen Nelson Gomes, working with Canadian citizen Luckhoo-Bouch and others, ran a fraudulent business through which corporate control persons could conceal their identities while illegally dumping their company's stock into the market for purchase by unsuspecting investors. The complaint alleged that these illegal stock sales were often boosted by promotional campaigns that, in some instances, included false and misleading information designed to fraudulently capitalize on the COVID-19 pandemic, such as false claims that a company being promoted could produce medical quality facemasks. The complaint further alleged that Luckhoo-Bouch facilitated Gomes' and others' illegal sales by serving as the nominal director of a company, which allowed corporate control persons to conceal their identities, and also by making misrepresentations that facilitated the fraudulent scheme. On December 4, 2020, the U.S. District Court for the District of Massachusetts entered final judgments by default against five of the entity defendants that ordered them, among other things, to pay a total of $12,895,750 in civil penalties, disgorgement, and prejudgment interest. Without admitting or denying the allegations in the SEC's complaint, Luckhoo-Bouch consented to the entry of a final judgment enjoining him from violating the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and ordering him to pay a $20,000 civil penalty. In addition, Luckhoo-Bouch consented to a 5-year penny stock bar. The SEC's ongoing case against the other defendants is being handled by Trevor Donelan, Eric Forni, Kathleen Shields, J. Lauchlan Wash, and Amy Gwiazda in the Boston Regional Office. Final Judgment as to Michael Luckhoo-Bouch