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.
August 13, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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 filed July 15 in the U.S. Northern District Court in Dallas by the Securities and Exchange Commission.
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