Brief: U.S. authorities charge several defendants over alleged Gerova fraud

Gerova Financial

24/09/2015 15:59

Sept 24 (Reuters) - Gerova Financial Group Ltd  GVFG.PK : 
 * U.S. charges 7 defendants in connection with alleged securities fraud 
   conspiracy involving Gerova Financial Group Ltd  GVFG.PK  
 * SEC files related civil lawsuit against six individual defendants--court 
   filing 
 * Defendants in SEC case include jason galanis, John Galanis, Jared Galanis, 
   Derek Galanis, Gary Hirst, gavin hamels 
 * SEC says jason galanis ran scheme to dump millions of Gerova shares, with 
   help of his father john and brothers jared and derek 
 * SEC says Gerova share price sank in response to selloff engineered by jason 
   galanis, who then bribed two people to prop up price 
 * SEC says scheme enabled galanis family to reap over $16 million at expense of 
   unwitting investors