SEC
Whistleblower
Attorneys

June 11, 2020

Ronald Hardy, Anthony Vassallo, Sergio Ramirez, et al.

Market Manipulation

SANCTION AMOUNT: Approximately $4.91 million

Defendants: Ronald Hardy, Anthony Vassallo, Sergio Ramirez

Defendants pled guilty to participating with others in a fraudulent scheme that involved boiler rooms using threatening and deceitful sales tactics to pressure retail investors to purchase penny stocks. Information learned about the victims' purchase orders was then used to facilitate the placement of opposing sell orders to dump shares owned by the scheme participants.

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