"The SEC's civil suit focuses on the couple's alleged conduct related to one of the six companies. The suit also names that company's former CEO as a defendant and accuses the Rosens and RB Capital Partners of using social media and news releases to promote the stock of a struggling public company while simultaneously making massive, undisclosed sales of their own stock at enormous profits."
"The Rosens, who allegedly used the illicit profits to buy a lavish multi-million-dollar home in La Jolla, were in custody and made initial appearances Wednesday in federal court in San Diego. They pleaded not guilty to charges in a 24-count indictment alleging conspiracy to commit securities fraud, money laundering and conspiracy to commit money laundering. Federal prison records showed both appeared to still be in custody Thursday."
Brett David Rosen and Deborah Rachel Rosen are accused of operating a yearslong pump-and-dump market manipulation scheme that generated more than $100 million for them and RB Capital Partners. The alleged scheme involved promoting the stock of at least six publicly traded, Over-the-Counter companies while secretly selling their cheaply acquired shares for huge profits. The SEC filed a civil suit tied to one company and named that company's former CEO as a defendant. The Rosens were arrested, pleaded not guilty to a 24-count indictment, and remained in federal custody awaiting proceedings.
Read at www.sandiegouniontribune.com
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