U.S. Charges Belize Agents Linked to Cynk’s Stock Surge
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Two men working out of the same Belize building as the penny-stock company Cynk Technology Corp., which surged to a market value of more than $6 billion for an hour in July, were among six people accused by the U.S. of helping clients evade securities and tax laws.
Robert Bandfield and Andrew Godfrey worked with investors to conceal penny-stock stakes and evade reporting requirements, the Securities and Exchange Commission said in a complaint filed today in federal court in Brooklyn, New York.