Craig L. Josephberg—Defrauding Company Investors, Pump-and-Dump Scheme
Craig L. Josephberg, of New York City, allegedly took in millions from investors while running an intricate pump-and-dump scheme involving shares of a medical education company, CodeSmart, and two other microcap stocks, according to recent SEC Documents currently under review by attorneys Joe Peiffer and Jason Kane.
The SEC goes on to allege that Josephberg ran a stock market manipulation ring which issued misleading press releases. In addition, the SEC has suspended trading in one of the microcap companies before they could illegally profit further, according to said SEC Documents.
The Peiffer Wolf investor rights lawyers are currently investigating Craig L. Josephberg and his alleged pump-and-dump scheme.
Craig L. Josephberg Facing a Permanent Injunction and Disgorgement of Ill-gotten Gains along with Prejudgment Interest, Financial penalties, and Penny Stock Bars
Craig L. Josephberg and Matthew A. Bell allegedly acquired some 3 million restricted shares of CodeSmart stock following its reverse merger into a public shell company in May 2013, and then improperly flooded the market with the shares as though they were unrestricted, according to SEC Documents being reviewed by attorneys Joe Peiffer and Jason Kane.
Josephberg and Bell then allegedly engaged in a promotional campaign to hype the stock by materially issuing misleading CodeSmart press releases, the SEC notes. Then, Bell and Josephberg invested their brokerage clients in CodeSmart, often using their retirement funds to purchase the purportedly unrestricted shares, according to the SEC.
Finally, Bell and Josephberg allegedly dumped their own shares on the market, and CodeSmart’s stock price crashed to earth from a peak of nearly $7 per share, according to the SEC. CodeSmart is now currently trading below 10 cents, according to recent market reports.
The Peiffer Wolf Securities Lawyers Investigating
The Peiffer Wolf investor rights lawyers often represent investors who lose money as a result of alleged Ponzi schemes. They are currently investigating Craig L. Josephberg for allegedly operating a pump-and-dump scheme. 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 Craig L. Josephberg for his alleged pump-and-dump scheme may contact the investment rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Craig L. Josephberg
Status: INVESTIGATED by Peiffer Wolf.
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