The U.S. District Court for the Eastern District of New York has entered a final judgment against Charlie Abujudeh whom the SEC had charged for his role in a microcap fraud scheme targeting retail investors. Among other things, the judgment orders Abujudeh to pay a total of over $5 million.
According to the SEC’s complaint, filed on July 22, 2021, from August 2019 to at least September 2020, Abujudeh worked with others to fraudulently sell several microcap companies’ stock to investors by making misleading statements during high pressure sales calls and/or email promotions.
The SEC alleges that, as part of the scheme, Abujudeh and his associates convinced investors to invest in the stock of Odyssey Group International, Inc., as well as other microcap companies, including Scepter Holdings, Inc., and CannaPharmaRx, Inc. Abujudeh paid stock promoters to tout Odyssey…
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