(June 14, 2017, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. has launched an investigation on behalf of victims of the stock manipulation scheme involving shares of stock in National Waste Management Holdings, Inc. (“NWMH”), CES Synergies, Inc. (“CESX”), Grilled Cheese Truck (“GRLD”), Hydrocarb Energy Corporation (“HECC”) and Intelligent Content Enterprises, Inc. (“ICEIF”).
On July 12, 2017, the US Attorneys’ Office unsealed a nine-count indictment filed in federal court in Brooklyn, New York, against 14 defendants including San Diego resident Lawrence Isen and Tarzana California resident Robert Gleckman.
According to the indictment, between January 2014 and July 2017, the defendants, together with others, engaged in a $147 million scheme to defraud investors, including the elderly, in one or more of the following publicly traded companies: NWMH, CESX, GRLD, HECC, and ICEIF by artificially controlling the price and volume of traded shares in the Manipulated Public Companies through, among other things, (a) artificially generating price movements and trading volume in the shares, and (b) material misrepresentations and omissions in their communications with victim investors about the stock of the Manipulated Public Companies, relating to, among other things, the advisability of purchasing such stock. The defendants also fraudulently concealed their control of shares of the Manipulated Public Companies that were held in brokerage accounts in the names of other individuals or entities. See, Press Release, Department of Justice, U.S. Attorney’s Office, Eastern District of New York (7/12/2017).
Although the criminal prosecution of perpetrators of such schemes is certainly warranted, the harsh reality is that victims of such schemes more often than not receive little if any recovery of funds from the criminal prosecution. Instead, most meaningful recoveries typically come from the pursuit of third party liability claims against the banks and/or brokerage firms who may have either aided and abetted the unlawful schemes and/or who negligently failed to detect and prevent such in the face of suspicious circumstances.
If you are an investor who has lost money purchasing one or more of the above stocks and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (firstname.lastname@example.org) at (800) 837-0441 or (760) 451-2300. If you email, please include your phone number