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July 17, 2019
Zev Saltsman, Menachem Eitan, Martin E. Weisberg, Edward G. Newman, Steven A. Newman, Andrew Brown
Trading and Pricing
SANCTION AMOUNT: $5929100
Defendants: Zev Saltsman, Menachem Eitan, Martin E. Weisberg, Edward G. Newman, Steven A. Newman, Andrew Brown
Combined sanction as against three Defendants (S. Newman, Eitan and Saltsman). (The litigation was resolved as against five-of-six Defendants and continuing against the remaining Defendant, Brown, at the time of this writing.) The SEC charged Defendants with participation in a fraudulent scheme involving two public companies - Xybernaut Corporation and Ramp Corporation - the object of which was to secretly purchase controlling blocks of the companies' stock and profit by executing short sales and covering with new, unregistered shares.
- Key Docs
- Official SEC press release
