Mystery of Cynk Stock Jump Endures as SEC Sues Belize Brokerages
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A U.S. probe into alleged penny-stock scams has again led to the Belize office building that was home to Cynk Technology Corp., the company that enthralled Wall Street last year by surging 36,000 percent.
The Securities and Exchange Commission last week sued two Belize-based brokerages, as well as three firms in the Cayman Islands and Panama, saying they generated more than $75 million by dumping worthless shares of shell companies.