March 3, 2016: The SEC has filed
litigation against Strategic Global Investments (
STBV) and CEO Andrew Fellner, for fraudulent actions which later proved to facilitate a Pump & Dump scheme. In spite of a two year investigation by the SEC, trading in the company was never suspended by the regulator, enabling recent losses to be added to the millions of dollars lost by investors at the height of the scheme. The efforts to defraud the public continue as we speak.
Among the allegations, the SEC states that "Strategic and Fellner also made material misrepresentations and
omissions in connection with a January 2014 securities offering by failing to
disclose in Strategic’s Form 1-A offering documents filed with the Commission
that: (a) Strategic had used investor proceeds to enter the marijuana business; and
(b) Strategic had later decided to exit that business." The complaint also states that
STBV never had the ability to operate a marijuana business or legally generate income from that business.
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Related: Regulation, Eh? STBV Shareholders Get Broadsided By Massive Dilution!
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| Andrew Fellner |
Effectively, the SEC is saying that
STBV and Fellner lied in press releases and Regulation A filing documents which offered securities for sale. 30 billion shares of Reg A stock was offered to select investors at $.0001/share on January 17, 2014 when shares were still trading on the open market at upwards of $.002, representing a significant profit for the privileged few. As permitted with Reg A offerings, the profit taking began quickly as participants dumped stock at will. Within a month of the offering,
STBV shares were trading in the low triple zeros. Eager lemmings were treated with a one for 1,000 reverse split a year later, an action that was clearly premeditated by Fellner and predictable by anyone with half a brain.
Fellner's devious intent should not come as a surprise to anyone given his history of
fraud and forgery. It is remarkable that anyone with his criminal background can be involved with the public markets.
We would not be surprised to learn of coming indictments in the
STBV matter. It certainly seems clear that Fellner belongs in prison.
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Related: STBV Past Performances