SEC v. Morningview Financial, LLC

According to the SEC, Morningview Financial, LLC and Miles Riccio allegedly acted as securities dealers from approximately July 2017 through at least December 2021, notwithstanding the fact that they were not registered as dealers with the SEC, nor was Miles Riccio associated with an SEC-registered dealer. The SEC also alleged that Defendants funded 35 penny stock issuers in exchange for at least 68 convertible notes and 4 warrant agreements, converted the notes and the warrants to obtain more than 3.2 billion shares of newly issued shares of common stock, and then publicly sold over 90% of these new shares of common stock.

Summary generated from official Securities and Exchange Commission press release