Agoracom Blog

Investor Relations Fail: SEC Charges Two Canadians

Posted by AGORACOM at 9:48 AM on Tuesday, September 8th, 2009
Image Courtesy Of

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If Jay Budd of Toronto and John Briner of Surrey, British Columbia were readers of this blog, they would realize that pump and dump and other short-term investor relations schemes are pretty much futile.  Instead both have been charged with fraud in connection with the company, Golden Apple Oil & Gas Inc.

According to the SEC’s complaint, from the fall of 2004 through May 2006 the defendants illegally sold stock and issued false and misleading press releases about Golden Apple’s success, first as a seller of home warranties and then as an oil and gas exploration company.

When will these guys learn?


4 Responses to “Investor Relations Fail: SEC Charges Two Canadians”

  1. AGORACOM says:

    Jay, thanks for the info. Can you provide a link to info to support this?

    If so, I can fire it off to our contacts within SEC enforcement. Frankfurt would be out of their jurisdiction but it can be passed on.


  2. Jay Lyman says:

    I believe Budd is now working Frankfurt. Indenture Investments, symbol “3iv”. Why is this allowed??

  3. leo polenta says:

    These guys already learned their lesson, the problem is that the next guys in line think they are invincible. They will never learn as far as I’m conferenced.

  4. Robert B says:

    Nice to see the SEC cracking down on these pump and dump con artists. However, the SEC still has long way to go before I feel comfortable enough to buy an OTCBB stock. I prefer TSX and TSX Venture stocks to the OTCBB wild west stocks any day of the week.