Cubed Inc. Pump and Dump Scheme Masterminds Charged with Securities Fraud
Abraxas J. Discala, CEO of OmniView Capital Advisors LLC, and Marc E. Wexler, President of OmniView, conspired with Matthew A. Bell, formerly associated with Securities America, Inc., and Craig L. Josephberg, currently associated with Meyers Associates, L.P., to inflate the price of the stock of Cubed, Inc., according to an indictment issued by a grand jury in federal court.
The Peiffer Wolf securities practice attorneys Jason Kane and Joe Peiffer are currently investigating the matter.
Discala, Wexler, Bell, Josephberg conspired to manipulate securities of Cubed, Inc., by coordinating their trading in the securities of Cubed to create a false appearance of market activity, according to the indictment. Cubed stock ultimately increased to $6.75 on June 23, 2014, which translated into a market capitalization of $300 million, even though Cubed’s public filings indicated it had minimal assets, according to the indictment.
The Peiffer Wolf securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.