May 20, 2015

Wwebnet, Inc.

Financial Fraud

SANCTION AMOUNT: $15,459,127

Defendants: Wwebnet, Inc.

False and misleading statements and omissions about defendant video software company to investors, including about its revenue generation and about the existence of a related-party transaction. Scheme enabled CEO to funnel at least $2.1 million of investor funds to himself/his personal options trading account in the Cayman Islands.

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