Christopher D. Phillips, former managing director of Vicis Capital LLC, has pleaded guilty to conspiracy to commit wire fraud in connection with a scheme to collect on medical receivables that he and others knew to be fraudulent. The hedge fund executive, who also was on the board of directors of...
The shares of SinoCoking Coal and Coke Chemical Industries Inc. (Nasdaq: SCOK) skyrocketed earlier this year, after the company went public through a reverse merger that included a private placement of common stock and warrants. As Sharesleuth previously reported, SinoCoking's stock shot from $6.45 on Feb. 16 to a...
Houston American Energy Corp. -- the subject of a recent Sharesleuth.com investigation - is boosting its stake in a Colombian oil prospect that it claims has 1 billion to 4 billion barrels of recoverable oil. Houston American (AMEX: HUSA) said in a Securities and Exchange Commission filing that it agreed...
A recent Securities and Exchange Commission filing by the chief executive of China Fire & Security Group Inc. (Nasdaq: CFSG) has raised additional questions about disclosure by the company and its major shareholders. Vyle Investment Inc., an entity headed by China Fire's chief executive, Brian Lin, said in the filing...
Mesa Energy Holdings Inc., which was the subject of a Sharesleuth story in April, is facing a formal Securities and Exchange Commission investigation. Mesa (OTCBB: MSEH.OB) said in a public filing that the SEC appears to be investigating whether the company or its predecessor, Mesquite Mining Inc., was involved in...
Telestone Technologies Corp. (Nasdaq: TSTC) doubled its sales last year, with nearly all of the gains coming from the three big players in China's burgeoning wireless communications market. The Beijing-based company, which provides equipment and services to mobile telecommunications providers, reported revenue of $71.9 million and earnings of $12.5...
The former chairman and chief executive of MDwerks Inc. (OTCBB: MDWK.OB), a company featured in a recent Sharesleuth investigation, has pleaded guilty to one count of health care fraud in connection with the processing of falsified insurance receivables. Recently unsealed court documents show that the executive, Howard B. Katz, has been cooperating with...
A surge in the shares of SinoCoking Coal and Coke Chemical Industries Inc. (Nasdaq: SCOK) has produced a small fortune - on paper at least - for a group of unidentified investors who bought stock in an offshore placement last month.SinoCoking's stock rose tenfold after the little-known Chinese company...
Another Who's Your Daddy Inc. executive has been caught up in a criminal drug trafficking case in San Diego. Court documents filed since our original story show that, in March, agents seized a 32-foot powerboat valued at more than $100,000 from Dan Fleyshman, one of Who's Your Daddy's founders and...
The Securities and Exchange Commission recently brought charges against financier Michael J. Xirinachs, alleging that he helped a Florida company called Universal Express Inc. dump billions of unregistered shares on the market in 2006 and 2007. The SEC said Xirinachs, though two investment companies, bought more than 15 billion unregistered...
