Marco Babini, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26136 / September 27, 2024

Securities and Exchange Commission v. Marco Babini, et al., No. 15-cv-13348 (D. Mass. filed Sept. 14, 2015)

United States of America v. Marco Babini, 1:15-cr-10261 (D. Mass. filed Sept. 10, 2015)

SEC Obtains Final Judgment Against Former Stock Promoter

A federal district court in Boston, Massachusetts has entered a final judgment in a microcap fraud case against Canada resident Marco Babini, a former stock promoter for a Massachusetts-based medical diagnostics company previously called Endeavor Power Corp. The SEC previously charged Babini and two other defendants with a scheme to defraud potential investors in Endeavor's publicly traded stock. The SEC's complaint alleged that Babini attempted to manipulate the market for Endeavor's stock by, among other things, engaging in coordinated trading designed to artificially inflate its price.

On September 27, 2024, the U.S. District Court for the District of Massachusetts entered a final judgment against Babini, enjoining him from future violations of the antifraud provisions of Sections 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder, and Section 9(a)(2) of the Exchange Act, and prohibiting him from participating in the offering of a penny stock. In a parallel criminal case brought by the U.S. Attorney for the District of Massachusetts, after a three-year effort to extradite Babini from Canada, Babini pleaded guilty to one count of conspiracy to commit securities fraud and wire fraud on December 20, 2023, and the court entered final judgment on March 18, 2024, order