December 14, 2015: Last Friday, the the FBI
announced the indictment of California attorney Jehu Hand for his part in the 2012 Pump & Dump scheme on Greenway Technology (
GWYT). The SEC issued its own
press release announcing parallel charges.
The announcements come several weeks after Hand was picked up by authorities at Miami's airport on November 14, during a change of planes. He was released on $3 million bail on November 24 but not before being fitted with an ankle bracelet and having his passport confiscated. He is also reportedly confined to the state of North Carolina with the exception of travel to Boston to face the Judge, where his first courtroom appearance in the matter took place on December 9.
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GWYT purported to operate resorts for gay and lesbian travelers. Once the stock was milked for all it was worth, the con was transferred to Andalusian Resorts and Spas, Inc. (
ARSP) another phony company with a penny stock and a fledgling Pump & Dump program. That scheme was halted in its tracks by the SEC before too much damage could be done.
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Related: Will ARSP Have a Gay Ole Time?
According to the
SEC complaint, Hand and stock promoter Antonio Katz and others backdated notes to hasten the issuance of millions of unrestricted shares of Greenway stock to nominee shareholders. Hand then wrote phony legal opinion letters in order that these conjured certificates could be deposited with brokerage firms for sale. Hand and company then issued dishonest press releases and procured the services of email stock promoters in order to dispose of the ill gotten shares at over inflated prices. Twelve million shares were dumped by the schemers onto the public.
Amusingly, the indictment comes just a few weeks after this website forwarded an email to the SEC that we received from Jehu Hand himself. Within that correspondence, Hand demanded that we remove him from a
cast of current penny stock fraud perpetrators we likened to the band of characters exposed in the film "The Wolf of Wall Street". Hand held himself out to be only a securities attorney and who was not involved in the sale of securities.
Our assertions of his dishonesty were well founded. In addition to
GWYT, Hand has well established connections with ongoing Pump & Dump schemes,
FBCD,
GFMH,
VICT and several others. Hand also has a long running relationship with penny stock fraud recidivist and convicted felon, Michael Osborn, who was
charged earlier this year for an unrelated scheme. Osborn and Hand among others worked together last year in the Fortitude Group (
FRTD) scandal in which Osborn's website, "ThePumpTracker.com" was purportedly sold to
FRTD and then listed on financials as a $30 million asset before the ticker was suspended from trading by the SEC amid on an ongoing investigation. Charges related to that scheme are expected within the next year.
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Related: Fortitude Group Bag Holders Have Little Reason to Hope As Thomas Parilla & Company Show The Way to the Cliff
