Two North Texas men face securities fraud charges in connection with an alleged "pump and dump" stock-fraud scheme that resulted in more than $32 million in losses for duped investors. Paul Johnson, 60, of Colleyville and Mark Lindberg, 40, of Coppell are both charged with fraud, according to court documents by the SEC. Johnson was president of Sniffex Inc., which the SEC alleges was a shell company that produced a hand-held bomb detector called the Sniffex, which did not live up to its claim.
Two North Texas Men Accused of Securities Fraud
The Associated Press
August 13, 2008