SEC
Whistleblower
Attorneys

May 22, 2019

Howard M. Appel

Market Manipulation

SANCTION AMOUNT: $4355947

Defendants: Howard M. Appel

Defendant and associates that he recruited and directed to buy and sell shares secretly acquired ownership or control over enough stock in three microcap companies that he effectively controlled the float. He then conducted matched trades to artificially create interest and drive up the trading price, after which he sold in real trades netting over $3 million in profits.

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