Pump and Dump Scheme in Violation of SEC Regulations
Over a several-year period, Mr. Arbenz fought for a client accused of being involved in a "pump and dump" scheme in violation of SEC regulations and federal laws. The client was charged with several felonies as well as sued civilly by the SEC. The client entered a guilty plea and the government sought a two-year prison sentence. The court rejected the government's request in favor of Mr. Arbenz's argument that his client receive no jail or prison time. Additionally, Mr. Arbenz settled the SEC civil case in a manner that was pleasing to his client.