SEC v. CBA Pharma, Inc.

CBA Pharma, Inc., Wayne Michael Putnam, and Louis “Buzz” Carmichael allegedly conducted a fraudulent securities offering which raised approximately $4.1 million from approximately 160 investors. According to the complaint, CBA Pharma, through Putnam and Carmichael, misrepresented to investors that CBA Pharma’s lone drug, CBT-1, was effective in treating cancer and was in the final stages of obtaining approval from the United States Food and Drug Administration.

Summary generated from official Securities and Exchange Commission press release