March 14, 2016

The SEC charged microcap company RVPlus Inc. and its CEO, Lee Peterson, with making bogus claims in the company’s public filings and in statements to private investors and with unlawfully distributing RVPlus’ stock.  The SEC alleges that starting in 2012, Peterson filed periodic reports with the SEC claiming that RVPlus had a lucrative relationship with the United Nations and clean energy agreements with governmental bodies in Nigeria, Haiti, and Liberia worth $2.8 billion.  RVPlus had no relationship with the U.N. and the contracts were fictitious.  In addition, the SEC alleges that RVPlus and Peterson gained control of more than 90 percent of RVPlus’ free trading shares and gave them individuals who unlawfully sold them into the market.  SEC

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