SEC Obtains Final Judgments Against Roger Knox and Wintercap SA in $165 Million Stock Sales Scheme

The Securities and Exchange Commission, or SEC, has obtained final judgements against Roger Knox and Wintercap SA. These judgments were obtained for their participation in an international scam that led to the illegal sale of over $165,000,000 worth of stock on U.S. market. Knox and Wintercap SA must pay more than $6 million to cover disgorgement, prejudgment interests and multiple injunctions.

According to an SEC complaint filed in October 2018 Knox and Wintercap assisted microcap security holders in evading the federal securities laws, which restrict sales by large investors. They helped sellers hide ownership of their stocks and provided anonymous access for trading shares on U.S. exchanges. Knox was indicted for securities fraud and conspiracy in January 2020. His sentencing is pending.

Michael Gastauer is also accused in the SEC’s complaint of aiding and abetting fraud by creating U.S. companies and allowing Knox use their accounts to distribute the profits from Knox’s illegal stock purchases. The court issued preliminary asset freezing and an injunction against Knox and Gastauer as well as the entities involved. Gastauer and his entities were later found guilty of final judgments, which included injunctions imposing civil penalties as well a disgorgement amounting to over $30,000,000. Raimund Gasauer also received a final judgement ordering him to pay $3.920.144 in disgorgement, prejudgment interests, and civil penalties. Raimund Gastauer is appealing that judgment. In December 2022 the SEC submitted a motion to dismiss claims it made against relief defendant Shamal International FZE.

Knox and Wintercap SA are permanently prohibited from violating securities law, including antifraud provisions and registration provisions. Also, they are prohibited from participating in penny stock offerings. Knox and Wintercap SA will also be jointly and severally responsible for disgorgement of over $6 million and prejudgment interests, which are to be satisfied through the payment previously frozen assets or forfeiture orders from Knox’s criminal trial.

The Boston Regional Office handled the SEC case against Knox Gastauer and other individuals.

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SEC

Securities and Exchange Commission is the regulatory agency of the United States, which is responsible for overseeing and applying federal securities laws. Its primary objective is to safeguard investors, maintain fair, efficient markets and facilitate capital formation.

The SEC is responsible for regulating a large number of entities including brokers, public companies, securities exchanges and investment advisers. The SEC requires that these entities provide investors with accurate information in a timely manner, thus ensuring transparency and preventing fraud. SEC is also a key player in the enforcement and enforcement of securities laws. It investigates potential violations, takes legal action against violators, and ensures transparency.

SEC offers investors education and guidance, in addition to its regulatory role. It helps them navigate the complex financial markets and make informed choices. The SEC aims to promote fairness and integrity among all securities market participants by creating a level playing ground for them.

The Securities and Exchange Commission is responsible for safeguarding investors’ interests and maintaining the integrity and safety of U.S. financial markets.

More information can be found at

SEC’s Website

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