The Securities and Exchange commission filed a penny stock bar on Brosius and Black Cat Sales group in alleging constructive fraud, wire fraud, and securities fraud. Brosius benefitted by artificially inflating and manipulating shares of low priced penny stocks and not fully disclosing compensation. The Philadelphia Court ordered Adam Brosius to two years incarceration and community service in exchange for a plea deal.
Judge Bishop also ordered Brosius to cease and desist and further business dealing in and around the financial markets until 2030, at which time he will be up for parole. As with any fraud, this one came to late for some, who lost millions due to his unscrupulous and deceitful actions.
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