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December 16, 2016

Posted  January 13, 2017

Newport Beach, California-based securities lawyer Michael J. Muellerleile accepted a penny stock bar and will pay more than $150,000 to settle charges of authoring false and misleading registration statements used in sham IPOs for five microcap issuers in order to transfer unrestricted shares of penny stocks to offshore market participants.  The SEC also brought charges against Muellerleile’s law firm M2 Law Professional Corp., Lan Phuong Nguyen, an attorney who assisted Meullerleile by signing false and misleading attorney opinion letters, and Joel Felix, the CFO of American Energy Development Corp., one of the issuers.  The SEC suspended trading in American Energy Development Corp.  SEC

Tagged in: Securities Fraud,