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Former Riot Blockchain CEO Settles For $3.5M In Penny Stock Manipulation Case

Ramsey Baker

Summary: Former Riot Blockchain CEO John O’Rourke III and two other individuals have agreed to settle with the United States Securities and Exchange Commission (SEC) for $3.5 million over three alleged penny stock pump-and-dump schemes. According to the terms of the settlement Michael Brauser, John Stetson, and O’Rourke will pay disgorgement, prejudgment interest and civil penalties. ...

Former Riot Blockchain CEO John O’Rourke III and two other individuals have agreed to settle with the United States Securities and Exchange Commission (SEC) for $3.5 million over three alleged penny stock pump-and-dump schemes.

According to the terms of the settlement Michael Brauser, John Stetson, and O’Rourke will pay disgorgement, prejudgment interest and civil penalties. The settlement also states the trio will not admit or deny the allegations laid out in the SEC’s 2018 enforcement action against them.

By Ramsey Baker

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