SEC v. Norman V. Meier

Norman V. Meier allegedly conducted a multi-million dollar securities fraud involving the offer and sale of several stocks to unsuspecting investors in both Europe and the United States. According to the SEC, from June 2015 to December 2023, Meier received more than $7900000 from over 180 European investors and three U.S. investors. The SEC alleges that Meier engaged teams of cold-callers in Europe who used fake names and solicited investments in companies created by Meier or his associates that had little or no actual business operations, as well as phony securities purportedly offered by well-known companies to which Meier and his teams of cold-callers had no real connection. The SEC further alleges that Meier’s victims wired funds to bank accounts in the United States that Meier controlled. As alleged, rather than investing funds as promised, Meier misappropriated money for his own use and to pay his overseas sales network to lure additional investors.

Summary generated from official Securities and Exchange Commission press release