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November 30, 2017

Posted  January 12, 2018

The Securities and Exchange Commission  Joseph A. Rubbo and Angela Beckcom Rubbo Monaco with defrauding elderly investors in a penny stock scheme involving Florida entertainment companies and their “Spongebuddy” product.  The charges are part of the Miami Regional Office’s Recidivist Initiative which has thus far resulted in enforcement actions against 23 individuals, nine of whom also have been charged by criminal authorities. The SEC’s complaint, filed in U.S. District Court for the Southern District of Florida, charges Rubbo and Monaco, both of Coral Springs, Florida, with defrauding investors through offerings by their companies VIP TV LLC, VIP Television Inc., and The Spongebuddy LLC.  Rubbo and Monaco are repeat offenders whose prior securities schemes resulted in criminal convictions against Rubbo and SEC injunctions against both Rubbo and Monaco. SEC

Tagged in: Misrepresentations, Securities Fraud,