ACAP Financial Inc.— Facilitation and Liquidation of Unregistered Microcap Stocks
ACAP Financial Inc.. Allegedly Facilitated the Liquidation of over 3.3 Billion Shares of Four Unregistered Microcap Stocks that Two Customers Deposited into Firm Accounts
ACAP Financial Inc., between January 2011 and December 2013, allegedly facilitated the liquidation of over 3.3 billion shares of four unregistered microcap stocks that two customers deposited into their accounts at the firm, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and Joe Peiffer.
ACAP Financial Inc. (ACAP), allegedly facilitated the liquidation of said shares while acting through Kirk Lynn Ferguson in his capacity as ACAP’s President and Chief Compliance Officer (CCO), and Gary Hume, the Anti-Money Laundering Compliance Officer, the Complaint also notes.
The Peiffer Rosca Wolf securities lawyers are currently investigating ACAP Financial Inc.’s alleged facilitation and liquidation of unregistered microcap stocks.
The Accounts at Issue Involving ACAP Were Opened for Two Corporations by an Individual named VB, the Only Contact on Both Accounts, Yet ACAP Allegedly Permitted Her Husband, JMB, to Execute Control over Both Accounts; ACAP failed, in the Face of Red Flags, to Conduct an Investigation into JMB
The accounts at issue involving ACAP were opened for two corporations by an individual named VB, the only contact named on both accounts, yet ACAP allegedly permitted her husband, JMB, to execute control over both accounts, according to the aforementioned Complaint being examined by attorneys Joe Peiffer and Alan Rosca.
ACAP allegedly failed, in the face of red flags, to conduct an investigation into JMB, failing to discover JMB’s significant securities-related disciplinary history, which included purportedly being barred by the NASD and being barred by the SEC from participating in penny stock offerings, the Complaint reports.
The corporations named in the Complaint include the following:
-Mindpix Corporation (MPIX)
-eMax Media Inc.
-eMax Worldwide, Inc.
-TDEY (the symbol for 3D Entertainment Holdings Inc.)
-PRPM (the symbol for ProTek Capital, Inc.)
-CGRA (the symbol for CGrowth Capital Inc.)
-Mainstreet Entertainment, Inc.
-Amarantus Bioscience Inc
-Water Technologies Inc
-Tactical Air Defense Services, Inc
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of brokers allegedly facilitating the liquidation of shares of unregistered microcap stocks, and are currently investigating ACAP Financial Inc.’s alleged liquidation of 3.3 billion shares of unregistered microcap stocks. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of ACAP Financial Inc.’s alleged liquidation of 3.3 billion shares of unregistered microcap stocks are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.