Jeff Smith 4 p.m., Dec. 20
Hailed as a Grower, Now Guilty of Fraud
Yan Skwara had worked on Wall Street 20 years when he arrived in San Diego a few years back. He called himself a farmer -- a grower of aspragus, aloe vera, and other things. His company was named U.S. Farms, based in Point Loma and Fallbrook. Now the Securities and Exchange Commission has cited him and his company with penny stock securities fraud. The charges were filed in Florida. There, in a case brought by the U.S. Attorney's office, Skwara pleaded guilty to securities fraud and testified against a friend. He is to be sentenced july 3. Also charged by the SEC in its war on penny stock fraud was Angel Acquisition Corp., based in Carson City and Carlsbad. It is now known as Biogeron. President Harold Steven Bonenberger of Carlsbad was cited by the SEC.
Then there is the recent initial public offering of Facebook. The stock has plunged amid charges of withholding of information and other transgressions. A shareholder suit against CEO Mark Zuckerberg and others charges that information was withheld from investors. One of two law firms representing the plaintiffs in the suit filed in Redwood City is Brian Robbins of San Diego's Robbins Umeda.
More like this:
- Former head of SD company charged in $28 million stock fraud — Jan. 22, 2013
- SEC Chasing Alleged Mining Fraud Involving San Diegans — Aug. 17, 2012
- Land of Ponzis, Penny Stock Swindles — May 31, 2012
- Carlsbad Broker Nailed for Hyping Biotech Stock — Feb. 23, 2012
- Here's an Example of SEC Nailing the Small Fry, Ignoring the Superrich — May 1, 2008