Litigation Release No. 24197 / July 12, 2018
Securities and Exchange Commission v. Pawel P. Dynkowski, et al., Civil Action No. 1:09-361 (D. Del.)
Court Enters Consent Final Judgment Against Joseph Mangiapane, Jr.
On June 14, 2018, the U.S. District Court for the District of Delaware entered a consent final judgment against Joseph Mangiapane, Jr., for his role in a scheme to manipulate the stock of Asia Global Holdings Corp. Without admitting or denying the SEC's allegations, Mangiapane consented to the judgment which permanently enjoins him from violating Sections 5 and 17(a)(3) of the Securities Act of 1933 and requires him to pay disgorgement of $26,000 and a civil penalty of $26,000. Mangianpane also consented to a Commission Order that bars him from associating with any broker or dealer and bars him from participating in any offering of a penny stock, with a right to apply for reentry after five years.
The SEC's complaint alleges that Mangiapane, a registered representative, helped plan and execute sell orders for nominee accounts in the Asia Global scheme. The complaint further alleges that Mangiapane helped launder proceeds from a pump-and-dump scheme involving the stock of GH3 International, Inc. The Court previously entered final judgments against eleven other defendants in this matter. The entry of the final judgment against Mangiapane concludes the litigation.
The SEC appreciates the assistance of the U.S. Attorney's Office for the District of Delaware; the Delaware State Police; U.S. Immigration and Customs Enforcement; and the Internal Revenue Service (Criminal Investigation).
For further information, see Litigation Release Nos. 21053 (May 21, 2009), 21463 (March 29, 2010), 22256 (Feb. 10, 2012), 22421 (July 25, 2012), 22626 (Feb. 27, 2013), 23348 (Sept. 15, 2015), 23350 (Sept. 16, 2015), 23412 (Nov. 23, 2015), 23563 (June 9, 2016), 24036 (January 30, 2018), and 24167 (June 18, 2018).