© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo
WASHINGTON (Reuters) – The U.S. Securities and Exchange commission (SEC) says it has charged 16 defendants with participating in multiyear penny stock schemes that generated more than $194 million in illicit proceeds.
The defendants in the international “pump-and-dump” plots are located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco, Spain, Turkey and the United Kingdom, the SEC said.
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