SEC v. Recycle Tech, Inc., et al. Case No. 12-cv-21656-JAL (S.D. Fla.)
Oct. 13, 2022
On May 2, 2012, the Commission filed a complaint, which was amended on August 17, 2012, against Recycle Tech, Inc. ("Recycle Tech"), Kevin Sepe ("Sepe"), Ronny J. Halperin ("Halperin"), Ryan Gonzalez ("Gonzalez"), OTC Solutions LLC ("OTC Solutions"), Anthony Thompson ("Thompson"), Pudong LLC ("Pudong"), Jay Fung ("Fung"), and David Rees ("Rees") (collectively, the "Defendants") and named Charter Consulting Group, Inc. ("Charter Consulting") as a relief defendant. The amended complaint alleged that from January 2010 through March 2010, the Defendants violated the federal securities law by orchestrating and participating in a pump and dump scheme of unregistered shares of Recycle Tech stock. See Amended Complaint.
Recycle Tech and Gonzalez were not ordered to pay any monetary sanctions. SeeRecycle Tech's Final Judgment and Gonzalez's Final Judgment. Sepe, Halperin, Rees, and Charter Consulting were ordered to pay disgorgement, prejudgment interest, and penalties to the United States Treasury. See Sepe's Final Judgment, Halperin's Amended Final Judgment, Rees' Final Judgment, and Charter Consulting's Final Judgment.
OTC Solutions, Thompson, Pudong, and Fung were ordered to pay a total of $1,100,695.12 in disgorgement, prejudgment interest, and penalties. The Commission was ordered to hold all funds (collectively, the "Fund"), pending further order of the Court. See OTC Solution's Final Judgment, Thompson's Final Judgment, Pudong's Final Judgment, and Fung's Final Judgment.
As ordered, OTC Solutions, Thompson, Pudong, and Fung have paid a total of $1,100,695.12 into the Fund.
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