SEC v. Luis Jimenez Carrillo

Luis Jimenez Carillo allegedly concealed that he and others controlled the securities of numerous microcap companies and secretly sold millions of shares in violation of securities laws. Wall and Wilson allegedly worked with Carrillo to gain control of at least one company’s securities and fraudulently sell them. According to the complaint, what appeared to be trading by unaffiliated investors was actually a massive selling of shares orchestrated by Carrillo, Wall, and Wilson, who were seeking to profit at the expense of defrauded investors.

Summary generated from official Securities and Exchange Commission press release