TheU.S. Securities and Exchange Commissionfiled two litigation releases this week — charging three individuals with running amicrocap pump-and-dump scamtargeting retail investors, and levying a $15 million penalty on two others who operated anunregistered securities fraudscheme.

County Line Energy Microcap Fraud

On Tuesday this week, the SECchargedJonathan Farberof New York,Aarif Jamaniof British Columbia, Canada andBrian Keasberryof Nevada, with running a microcap fraud scheme.

The scheme allegedly involved the defendants gaining control of the shares ofCounty Line Energy (OTC:CYLC), a small publicly-traded company based in...