"Landis sought to induce others to trade in the securities of companies whose stock he manipulated by creating the mirage that those companies’ securities were in high demand," the SEC complaint states.
Landis and Ridgeview are facing charges of violating the antifraud and market manipulation provisions of the federal securities laws, the SEC said. The complaint seeks a permanent injunction against future violations, disgorgement of ill-gotten gains plus prejudgment interest, monetary penalties and a penny stock bar.