05 Dec Sylvester King Jr.— Alleged Private Securities Actions
Sylvester King Jr. Allegedly Participated in Private Securities Transactions with a Startup Internet Branding Company, Global Village Concerns, Inc. or GVC; King Allegedly Sold over $5 Million Unregistered, Illiquid Securities to NFL Players and Other Customers
Sylvester King Jr., starting in 2009 and continuing into 2012, allegedly participated in private securities transactions with a startup internet branding company, giving several of King and his partner’s clients access to more than $3 million of preferred stock in this new company, according to an SEC Order currently under review by attorneys Joe Peiffer and James Booker.
Peiffer Wolf securities practice lawyers are investigating Sylvester King Jr.’s alleged sales of undisclosed securities actions.
Investors who believe they may have lost money in activity related to Sylvester King Jr.’s alleged sales of undisclosed securities actions are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Said transactions were allegedly facilitated by sending PowerPoint presentations and other important data about the new company to potential investors, the Order states. These investments, however, were not purportedly approved by King’s brokerage firms, the Order notes.
King, in sum, allegedly participated in sales of over $5 million of unregistered, illiquid securities to NFL players and investment advisory clients in an internet branding company known as Global Village Concerns, Inc., or GVC, according to the aforementioned SEC Order.
Sylvester King Jr. Was Allegedly Named in Connection with Loaning Another Customer $25,000 without commission and Participating in Undisclosed Private Securities Transactions known as Selling Away
Sylvester King Jr. was allegedly named in connection with loaning another customer $25,000 without commission and purportedly participating in undisclosed private securities transactions known as selling away, according to the aforementioned SEC Order being reviewed by attorneys Joe Peiffer and James Booker.
In 2015, King was suspended from associating with any FINRA member brokerage firm for 18 months and ordered to pay a $35,000 fine, and FINRA then revoked his registration for allegedly failing to pay fines and costs, the Order notes.
King became active in the securities industry in 1999. Between 2006 and 2009, he worked with Citi Group Global Markets Inc., between 2009 and 2010 he worked with Morgan Stanley and from 2011 until 2015 he was connected to Wells Fargo, the SEC states.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Sylvester King Jr.’s alleged sales of undisclosed securities actions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Sylvester King Jr.’s alleged sales of undisclosed securities actions may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 585-310-5140 or via e-mail at [email protected] or [email protected].