SEC v. Morrie Tobin

Brian Quinn and David Skriloff allegedly participated in a fraudulent scheme to profit from the manipulation and sale of stock of Environmental Packaging Technologies Holdings, Inc. According to the complaint, Quinn facilitated a reverse merger and arranged a promotional campaign to increase demand for Environmental Packaging’s stock. According to the complaint, Skriloff made misstatements in public reports about the reverse merger and the company’s connection to the promotional campaign. Daniel Lacher allegedly facilitated schemes by utilizing a network of nominee entities to secretly hold control persons’ shares, arranging for the deposit of those shares with brokers, selling those shares to investors, and sharing in the profits. Quinn, Skriloff, and Lacher allegedly participated in efforts to cover up the fraud and obstruct the investigation after the trading halt.

Summary generated from official Securities and Exchange Commission press release