Longtime readers of the blog will not be surprised to learn that recidivist Vancouver BC stock scammer Harmel Rayat is in the news again.
One might remember Harmel from 2018, when we looked closely at his two current stock promotions, Renovacare (RCAR) and Solarwindow Technologies (WNDW). Catch up on the backstory here.
Today, the SEC filed a complaint against Harmel alleging that he and the company attempted to hide their role in running a stock promotion scheme to inflate the price of RCAR shares, including issuing a press release, and filing an 8K with false information.
Perhaps most importantly the SEC alleges that Harmel tried to obscure the paid promotions by funneling the money through third parties. The SEC says:
Read the full complaint here.
A lot of other scams with supposedly no relationship with promotional outfits should take careful note. Insider Financial and Emerging Growth, we’re looking at you….
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