Federal prosecutors in the Southern District of New York have filed two civil forfeiture complaints to forfeit more than $19.5 million in assets seized in alleged stock pump-and-dump schemes.
Filed in Manhattan federal court on June 30, the complaints seek forfeiture of assets linked to two Hong Kong-based companies—CTRL Group Limited and Dreamland Limited—both of which are listed on Nasdaq.
The schemes were “driven by Asia‑based small‑cap foreign issuers seeking to manipulate share prices and exploit American investors” and “pose serious risks to those who place their trust in our financial system,” U.S. Attorney for the Southern District of New York Jay Clayton said in a statement on June 30. …