A MUST READ! The U.S. Securities and Exchange Commission has filed civil charges against Rhode Island stock promoter Ahmed Alomari, citing him for the promotions of five companies, including TAAT Global Alternatives Inc. of Vancouver. The SEC claims that Mr. Alomari boosted TAAT with claims like "Just a matter of time before this stock blows up and never looks back" without telling investors that he was being paid to tout the company. With TAAT, he was to receive $160,000 and 50,000 shares, the SEC claims. (All figures are in U.S. dollars.)
The allegations are contained in a civil complaint that the SEC filed on May 3, 2024, in federal court in Rhode Island. The SEC cites Mr. Alomari, 39, for a touting business that he ran under names such as "GMoney," "Prime Time Media" and "Millionaire Media." According to the SEC, Mr. Alomari claimed to be a self-made millionaire who had millions of followers on celebrity gossip websites and social media websites. He touted stocks on Twitter, Facebook and Instagram, among others, the SEC says.