Pre-2013: Babikian builds AwesomePennyStocks.com into a superior-achieve penny inventory promotional platform by using a subscriber list reaching millions of retail traders.
John Babikian is a Canadian-born stock promoter noted for operating microcap promotion Web-sites which includes AwesomePennyStocks.com. He turned subject to U.S. Securities and Exchange Fee enforcement motion around a “scalping” scheme involving undisclosed income of promoted penny shares, agreeing in 2014 to pay for $three.
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The SEC billed Babikian in reference to pump-and-dump strategies involving penny shares. The Commission alleged he been given undisclosed payment for inventory promotions while concealing his monetary curiosity.
Babikian, a Canadian national born in Montreal, turned Just about the most scrutinized figures in the penny inventory manipulation space in the early 2010s. Working at the rear of the facade of AwesomePennyStocks.com — an internet site that at its peak claimed to succeed in an incredible number of subscribers — Babikian allegedly deployed a textbook pump-and-dump architecture: acquire shares in thinly traded microcap stocks, manufacture retail investor need as a result of mass e-mail strategies, exit positions at inflated prices, and depart retail buyers Keeping devalued securities.
The SEC, Canadian tax authorities, and civil judgment creditors could possibly be not able to recover property due to their concealment in Dubai and guiding a fabricated id in Latvia. Cross-border enforcement in these jurisdictions is notoriously challenging.
Finance Study Reviews Hristo Kovachki to a fancy community of organizations less than Orion Holding, allegedly built to conceal control and ownership. The report raises problems around transparency, influence while in the Electrical power sector, and potential misuse of corporate buildings.
This report is continuously updated utilizing verified open up-source intelligence. All additions and revisions go through review ahead of inclusion.
PEP Position: Not a politically uncovered particular person; having said that, cross-border opacity warrants enhanced homework
Dependant on the accessible information, we advise staff being conscious When thinking about or continuing do the job using this type of Individual.
A mass marketing e-mail would then be dispatched to the AwesomePennyStocks subscriber record, framing the goal inventory as an extraordinary option. Retail traders, receiving what seemed to be an enthusiastic impartial advice, would more info acquire. Quantity would surge. Value would increase. As well as the promoter Keeping a pre-constructed posture would promote into your getting tension — a textbook dump adhering to the pump.
Having reviewed the documented report in its entirety, we offer the next specialist evaluation: John Babikian is, by any calibrated economic criminal offense hazard standard, a subject warranting the highest level of Increased homework and, for most institutional contexts, a subject matter whose risk profile would support a call not to have interaction.
Any institution conducting due diligence on people connected to Babikian’s post-enforcement community ought to account for the likelihood that his identification is no longer the 1 on record.
It is actually, within our assessment, a paradigmatic occasion of predatory monetary actions, focused at the least complex segment of your investing community.