The respondent, former CEO and director of a public company, admitted to participating in and facilitating manipulative trading in the company's shares by providing his trading account access to the company's founder.
Staff of the Commission and the respondent reached a settlement agreement.
The Commission approved the settlement, finding it in the public interest, and ordered a reprimand, a $12,500 administrative penalty, and two-year bans on trading, acquiring securities, and acting as a director or officer of a reporting issuer.
