Remember Our Friend Jeff "Wakabayashi Fund" Stone?
Don't remember? This post is a classic introduction to him and his biz, "Wakabayashi Fund LLC."
Here's the latest news on some trouble he and his wife, Janet Diller Stone, had with the SEC.
The Securities and Exchange Commission announced today that on January 13, 2009, the United States District Court for the Southern District of New York entered a final judgment against former Connecticut resident Janette Diller Stone (aka Janette Dillerstone) in which it ordered her to pay a total of $462,247.21 in disgorgement and prejudgment interest and a $60,000 penalty for her alleged involvement in a 2005 microcap market manipulation scheme. Diller Stone earlier agreed to a partial settlement of the Commission's charges in which, without admitting or denying the Commission's allegations, she consented to imposition of an injunction permanently enjoining her from violating the antifraud, registration, and other provisions of the federal securities laws.
This judgment follows the Court's entry of a default judgment on November 25, 2008 against Diller Stone's husband, Jeffery Steven Stone, a convicted felon, in which the Court found that Stone had violated the antifraud, registration, and other provisions of the federal securities laws. The Court permanently enjoined Stone from further securities law violations and ordered him to pay $462,247.21 in disgorgement and prejudgment interest and a $120,000 penalty. Stone and Diller Stone were ordered to pay the disgorgement and prejudgment interest together with two entities they controlled, Pedracar, Inc. and Crescent Fund, LLC, against which default judgments were entered in March 2007...
See Litigation Release No. 19805. (Emphasis is mine.)
Here's Jeff Stone's LinkedIn page. Here's Janet's.
Apparently, they're still working the Wakabayashi fund thing. Here's that webpage
An interesting snippet: Wakabayashi Fund's entire premise is based on established relationships and our reputation for consistently delivering relevant information and insight. Our extensive relationship database is the product of our efforts over the last 20 + years of working on Wall Street...
I didn't see anything in there about felony convictions or SEC judgments... Those are the kinds of relationships I expect might greatly interest potential clients.
A few other links are here. Use at your own discretion.