GARRETT M. O'ROURKE AND MICHAEL J. BLACK REVIEW
This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/garrett-m-o-rourke-and-michael-j-black-5YCWS/they-run-terrible-pump-dump-scheme-targeting-elderly-retail-investors-id5ydqm .
They Run A Terrible Pump and Dump Scheme Targeting Elderly Retail Investors
Today, The Smart Investor Feed brings you another morally reprehensible fraud.
Garrett M. O'Rourke and Michael J. Black has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?
We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.
Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:
Full Report On Garrett M. O'Rourke and Michael J. Black
On November 30, 2020, the SEC obtained a final consent judgment against Florida resident Garrett M. O'Rourke, who was charged with running a pump and dump scheme targeting retail investors. The final judgment orders O'Rourke to pay $5,763,719 in disgorgement of ill-gotten gains plus prejudgment interest.
According to the SEC's complaint, filed on July 17, 2019, O'Rourke worked with Maryland resident Michael J. Black to fraudulently sell the stock of several microcap companies to investors, including elderly retail investors, using high-pressure stock promotional campaigns. The complaint alleged that O'Rourke engaged in unsolicited cold calls to prospective investors, telling the investors that he had found promising investment opportunities. In actuality, O'Rourke sought to convince the investors to buy the stocks so that he and the people who hired him could sell their holdings in the same stocks for a profit. O'Rourke and Black also allegedly schemed to disguise their control over at least one microcap company in order to facilitate their illegal sales of the company's stock, generating millions of dollars in proceeds.
The final consent judgment against O'Rourke, entered by the U.S. District Court for the Eastern District of New York, resolved all claims against him. The final judgment enjoins O'Rourke from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and of Section 17(a) of the Securities Act of 1933, and the registration provisions of Section 5 of the Securities Act. The final judgment also imposes a penny stock bar and orders O'Rourke to pay $5,763,719 in disgorgement and prejudgment interest.
Conclusion: Garrett M. O'Rourke and Michael J. Black Is A Fraud
The report on SEC clearly suggests that Garrett M. O'Rourke and Michael J. Black never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.
If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.
Help Us Fight These Criminals
Do you have evidence against Garrett M. O'Rourke and Michael J. Black or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.
Full Disclosure: We sourced this piece of information from the SEC database