SEC v. Frank Igwealor

Frank Igwealor allegedly engaged in a scheme to misappropriate $2.2 million. Igwealor also allegedly sold millions of shares of three microcap issuers for a profit of approximately $6 million. Patience Ogbozor appears to have violated Section 17(a)(3) of the Securities Act and aiding and abetting violations of Section 13(k) of the Exchange Act. GiveMePower, Inc, Kid Castle Educational Corporation, Video River Networks, Inc., Alpharidge Capital LLC and Los Angeles Community Capital appears to have committed securities law violations in connection with the mortgage-related fraud; and Alpharidge Capital LLC and American Community Capital, LP in connection with Igwealor’s sales of securities, according to the SEC.

Summary generated from official Securities and Exchange Commission press release