The U.S. Securities and Exchange Commission filed two litigation releases this week — charging three individuals with running a microcap pump-and-dump scam targeting retail investors, and levying a $15 million penalty on two others who operated an unregistered securities fraud scheme.

County Line Energy Microcap Fraud

On Tuesday this week, the SEC charged Jonathan Farber of New York, Aarif Jamani of British Columbia, Canada and Brian Keasberry of Nevada, with running a microcap fraud scheme.

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