SEC
Whistleblower
Advocates

October 01, 2015

Jean-François Amyot, Spencer Pharmaceutical Inc., IAB Media Inc., Hilbroy Advisory Inc.

Market Manipulation

SANCTION AMOUNT: $7,084,764

Defendants: Spencer Pharmaceutical Inc., IAB Media Inc., Hilbroy Advisory Inc.
Jean-François Amyot

"Pump-and-dump" scheme in 2010 and 2011 involving stock of defendant Spencer Pharmaceuticals, which had addresses in both Boston and Canada. The individual defendant controlled that and the other two defendant companies and was the orchestrator of the scheme, in which false and misleading press releases were disseminated and stock improperly transferred to evade registration requirements. In excess of $5 million illicit proceeds.

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