The US Securities and Exchange Commission has charged 16 defendants, located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco, Spain, Turkey, and the UK, for participating in multi-year fraudulent penny stock schemes that generated more than $194m in illicit proceeds.
The SEC investigations leading to these charges involved assistance from securities regulators and other law enforcement authorities in more than 20 countries and are associated, in pa…
