November 21, 2019

Samuel DelPresto, MLF Group, LLC, Donald Toomer, Jr.

Market Manipulation


Defendants: MLF Group, LLC
Samuel DelPresto, Donald Toomer, Jr.

Consent judgments entered against defendants for a market manipulation scheme in which DelPresto and a partner secretly acquired ownership of the vast majority of shares of at least four microcap companies, then heavily promoted and dumped them. Toomer, an investment adviser associated with a registered entity, allegedly received cash kickbacks in exchange for purchasing three of the companies' stocks in his advisory clients' accounts to create the appearance of liquidity and demand.

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