The Securities and Exchange Commission (SEC) confirmed today that it has obtained a final judgment against James B. Panther, Jr. for his role in a fraudulent scheme.
The scheme enabled Panther to secretly control and inflate the price of shares of a microcap issuer, and then make millions by selling shares to unwitting investors.
This finding by the Court resolves all claims arising out of the SEC’s complaint, filed on May 15, 2018, which alleged that co-defendant Francisco Abellan Villena (“Abellan”) masterminded a scheme where, aided by Panther and two other co-defendants, he hid his ownership and sales of Biozoom, Inc. shares by using sham purchase agreements, a network of nominees, anonymizing techniques, and other deceptive practices.
Panther also helped facilitate Abellan’s use of alleged manipulative trading techniques and carry out an extensive promotional campaign to artificially inflate Biozoom’s share…
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