Geoffrey Allen Wall

Quick summary on Geoffrey Allen Wall

SEC Charges Geoffrey Allen Wall and Others in Alleged Stock Fraud
The U.S. Securities and Exchange Commission (SEC) has charged Geoffrey Allen Wall, along with Jay Scott Kirk Lee and Benjamin Thompson Kirk, in a $1 billion pump-and-dump stock fraud scheme. The trio allegedly used shell companies set up by Fred Sharp, a West Vancouver resident, to manipulate stock prices and engage in illicit trading. Sharp is also facing criminal charges for his role in the scheme.

Operation of the Alleged Scheme
The defendants are accused of hiding their ownership of shares through nominee owners, avoiding disclosure rules, and making fraudulent statements to brokers to create the illusion of legitimate trading. The SEC claims Wall, Lee, and Kirk traded shares in at least 10 junior American companies, earning an estimated $77.3 million in illicit profits, which is about 10% of Sharp’s total fraudulent operation.

The scheme involved encrypted communications, with the defendants using code names such as “Bertie” (Sharp), “Bahamas” (Kirk), and “Rocko” (Lee). The group is also accused of aggressively promoting companies like Nutranomics, falsely advertising their products and selling large amounts of shares to retail investors.

SEC Lawsuit
The SEC’s lawsuit seeks civil penalties, penny stock bans, permanent injunctions, and repayment of ill-gotten gains with interest. Additionally, the Justice Department has requested a default judgment against Sharp, who has not responded to the accusations. The SEC asserts that they will continue to enforce laws against such complex fraudulent schemes.