Swiss Co. Hit With Civil, Criminal Stock Plot Charges

Law360 (January 2, 2020, 7:55 PM EST) -- New York federal prosecutors on Thursday announced criminal charges against a Swiss asset management firm, its owner and a Danish accomplice, claiming the duo earned millions off an elaborate pump-and-dump securities fraud scheme spanning six years.

According to an indictment released Thursday, the firm, Blacklight SA, its founder Kenneth Ciapala and his associate Ulrik Debo operated the scheme since 2013, gaining controlling stakes in publicly traded microcap companies and then launching campaigns to push the microcap stocks’ trading price up.

Ciapala and Debo’s machinations involved the use of shell bank accounts and brokerage accounts and shell companies to obscure stock ownership...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!