SEC v. Elliot Maza, John H. Ford — U.S. Securities and Exchange Commission Litigation Release No. 26308, dated May 22, 2025.
The SEC secured final judgments against two individuals, Elliot Maza and John H. Ford, for their roles in market manipulation schemes that generated over $27 million. Maza, as CEO, concealed a group's control over a public company, while Ford wrote misleading articles about companies without disclosing his compensation. Both defendants consented to injunctions, bars from penny stock trading, and civil penalties.
In Plain English
Imagine someone is selling a lemonade stand. They tell you it's making a ton of money, but they're secretly hiding that they own most of the stand and are actually losing money. The SEC stepped in and said this is not allowed. They made the people involved stop doing this and pay fines.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
How the Alleged Scheme Worked
- Concealing Control Barry Honig and his associates allegedly controlled a public company but hid this fact. As CEO, Elliot Maza signed public filings that did not disclose the group's control over the company.
- Paid Promotion John H. Ford was allegedly paid by other defendants to write articles about companies. These articles were designed to be favorable and materially misleading to investors.
- Undisclosed Compensation Ford did not disclose that he was receiving compensation for writing these positive and misleading articles about the companies, violating rules about transparency in financial reporting.
- Generating Illegal Proceeds These fraudulent schemes, involving concealed control and undisclosed paid promotions, were designed to artificially inflate stock prices and generate profits from unlawful stock sales.
- SEC Complaint Filed The Securities and Exchange Commission (SEC) filed its initial complaint in federal district court in the Southern District of New York on September 7, 2018, alleging these fraudulent activities.
- Complaint Amended The SEC amended its complaint on March 8, 2019, and again on March 11, 2020, to further detail the alleged market manipulation and fraudulent schemes.
- Final Judgments Obtained On April 25, 2025, the SEC obtained final judgments against defendants Elliot Maza and John H. Ford.
- Maza's Penalties Maza consented to permanent injunctions, an officer-and-director bar, a penny stock bar, and agreed to pay a $578,095 civil penalty. He also agreed to be suspended from practicing before the SEC as an attorney and accountant.
- Ford's Penalties Ford consented to permanent injunctions, a penny stock bar, and agreed to pay a $100,000 civil penalty for his role in writing misleading articles without disclosing compensation.
The Enforcement Action
On April 25, 2025, the SEC obtained final judgments against defendants Elliot Maza and John H. Ford in a market manipulation case. Maza, as CEO, signed filings concealing a group's control, and Ford wrote paid, misleading articles without disclosure. Maza consented to permanent injunctions, an officer-and-director bar, a penny stock bar, and a $578,095 civil penalty, plus suspension from practicing before the SEC. Ford consented to permanent injunctions, a penny stock bar, and a $100,000 civil penalty. The SEC's complaint was filed on September 7, 2018, and amended multiple times.
Named in this action: Elliot Maza, John H. Ford.