Attorney Prominent in the Crowdfunding Sector is Target of SEC Enforcement Action
“The Securities and Exchange Commission (SEC) issued a litigation release today alleging charges of microcap fraud that involved an attorney prominent in the US crowdfunding sector,” reports JD Alois in Crowdfund Insider.
“According to the SEC complaint, Jillian Sidoti, affiliated with the law firm known as CrowdfundingLawyers.net, facilitated alleged fraudulent dumping of securities of penny stock company Blake Insomnia Therapeutics.”
“According to the SEC complaint, as an attorney for Blake, Sidoti apparently drafted and signed documents that contained materially false information regarding the operations and control of Blake, including a private placement memorandum and registration statements filed with the Commission.”