The Securities and Exchange Commission yesterday (May 15) charged Carlsbad’s James P. Panther Jr. (also known as Jaime or James Suqui) and three accomplices with fraudulent sale of a penny stock, usiing offshore havens in the process.
The name of the stock suggested a manipulation: Biozoom. Hot biotech stocks are frequently manipulated upward, and the word “zoom” certainly suggests an upsweep.
According to the securities commission, Panther and his fellow defdendants “hid their ownership and sales of Biozoom shares by using offshore bank accounts, sham legal documents, a network of nominees,” and other falsification techniques. The defendants are charged with generating almost $34 million of unlawful stock sales, harming investors.
The complaint was filed in the Southern District of New York. Panther’s alleged companions in the fraud were Guillermo Ciupiak, last known to have lived in Barcelona, Spain; Francisco Abellan Villena, also believed to be in Barcelona, and Faiyaz Dean of Vancouver, British Columbia.