SEC v. George John Drazenovic

George John Drazenovic allegedly furthered two penny stock rings’ pump-and-dump frauds. According to the complaint, Drazenovic acted as a finder of mineral extraction or exploration rights, which then served as the purported marquee assets of at least ten different penny stock issuers and were central to the pump-and-dump frauds. The SEC’s complaint alleges that Drazenovic recklessly disregarded that the rings for which he was working controlled and funded each issuer, were not investing, and had no intention of investing, the resources necessary to discover or extract the respective minerals beyond minimal levels.

Summary generated from official Securities and Exchange Commission press release