The Securities and Exchange Commission on Tuesday charged two California-based attorneys with executing fraudulent legal opinions in a pump-and-dump scheme. Albert Rasch Jr. and Kathleen Novinger, of Albert J. Rasch & Associates, allegedly executed at least 24 bogus opinion letters, effectively lifting restrictive legends on unregistered shares of Mobile Ready Entertainment Corp. and allowing the sale of more than 22 million shares of the company's stock in violation of rules governing the conversion of restricted stock.
SEC Charges Lawyers in Pump-and-Dump Scheme
The National Law Journal
May 6, 2009