Article: SEC CHARGES SMART ONLINE, ITS PRESIDENT, CEO DENNIS MICHAEL NOURI, FIVE OTHERS IN CONNECTION WITH A BROKER-BRIBERY SCHEME

The Securities and Exchange Commission issued the following litigation release:

The Securities and Exchange Commission announced today that it filed a civil injunctive action against Smart Online, its CEO and president, Dennis Michael Nouri ("Michael Nouri"), Michael Nouri's brother, Reeza Eric Nouri ("Eric Nouri"), and four brokers, alleging that Michael and Eric Nouri paid cash bribes to the brokers to sell Smart Online stock to create volume and demand for the Smart Online's stock.

The complaint alleges that Smart Online stock began trading publicly on the OTC Bulletin Board in April 2005. Defendant Michael Nouri, the CEO of Smart Online, sought to qualify the company for listing on the ...

Related newspaper, magazine, and journal articles:

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!