December 11, 2015

The SEC announced fraud charges and a court-ordered asset freeze against penny stock company Oxford City Football Club, Inc.  The SEC alleges that Oxford City’s CEO, Thomas Anthony Guerriero, used pressure tactics and a boiler room of salespeople to raise more than $6.5 million from primarily inexperienced investors who were misled to believe that the company was a thriving conglomerate of sports teams, academic institutions, and real estate holdings.  The company even falsely touted itself as “the largest publicly traded diversified portfolio of professional sports teams in the world.”  In reality, the company was losing millions of dollars each year and turning zero profit from its two lower-division soccer teams in the U.K.  SEC

Tagged in: Market Manipulation and Trading Violations, Misrepresentations, Securities Fraud,