SLJB - Sulja Brothers Building Supply, Inc. Message Board

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Non-Tech : SLJB - Sulja Brothers Building Supply, Inc.

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Jun 4 9:43 AM EST

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From: scion	9/20/2012 10:59:21 AM
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An Ontario case showcasing a “pump and dump” scheme, first reported in the CSA’s 2008 Enforcement Report, concluded in 2011. Sulja Bros. Building Supplies, Ltd., another corporation and six individuals were involved in a fraudulent scheme wherein Sulja shares were issued and subsequently traded in a market that was inflated by overwhelmingly positive but false press releases about Sulja’s prospects. The respondents sought to conceal the extent of their involvement by trading through nominee accounts, creating a misleading appearance of trading activity in Sulja securities and obtaining trading profits of US$5.6 million. The Ontario Securities Commission (OSC) levelled sanctions against the respondents totalling more than $7 million. Canadian Securities Administrators 2011 Enforcement Report er-ral.csa-acvm.ca securities-administrators.ca

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