Gregg Jaclin, Architect of Major Penny Stock SchemesCharged By the SEC

May 12, 2016: Continuing its attack on scuzzy attorneys who defraud the public through penny stock schemes, the SEC today unveiled civil charges against Attorney Gregg Jaclin of New Jersey.

Jaclin who has represented many sham companies, has been accused by the regulator of creating many of them.  According to the complaint, together with his partner, Imran Husain, Jaclin ran a shell factory, filing registration statements to form new companies and then lying to investors about the viability of these empty shells. The partners then sold the newly public companies rather than carry out their purported business plans. Some of these shells begat eventual promotion subjects CCGI, YESD, IZEA, HLTD (trading as SOLS during promotion) BCST and YERR (trading as KIRI during promotion).

Penny Stock Scumbag Attorney, Gregg Jaclin

It is no coincidence that, during his days at the now defunct firm of Anslow and Jaclin, LLP, Jaclin was known for representing several companies that became some of the biggest pump and dump schemes out there.  These include BRND, SANP, BLBK, JAMN, LBSR and dozens of others.  Jaclin is also accused of creating phony opinion letters that enabled the pumping and dumping of restricted trading shares in LUXR, one of 2012's biggest penny stock frauds.

It is unknown whether parallel criminal criminal charges regarding the Jaclin-Husain shell scheme are forthcoming.