SEC v. Giguiere

Andrew Hackett allegedly engaged in a scheme in conjunction with a promotion of the stock of Arias Intel Corp beginning in February 2017, according to the SEC. According to the SEC’s complaint, Hackett bought ASNT shares from another defendant at a significant premium to the stock’s trading price as part of a scheme for Hackett to control the company’s shares. The SEC alleged that in August 2017, a second defendant caused ASNT to issue to Hackett a convertible promissory note, enabling him to acquire more ASNT shares. The complaint further alleged that Hackett sold ASNT stock to an undercover FBI agent as part of an intended matched trading scheme.

Summary generated from official Securities and Exchange Commission press release