SEC v. Drew Morgan Ciccarelli

Drew Ciccarelli allegedly played a role in a pump-and-dump scheme in the stock of Rarus Technologies Inc. According to the SEC, Ciccarelli was paid $150,000 by a shareholder group that secretly controlled Rarus to promote and increase demand for Rarus stock in order for the shareholder group to sell its shares at inflated prices.

Summary generated from official Securities and Exchange Commission press release