Jaclin who has represented many sham companies, has been accused by the regulator of creating many of them. According to the complaint, together with his partner, Imran Husain, Jaclin ran a shell factory, filing registration statements to form new companies and then lying to investors about the viability of these empty shells. The partners then sold the newly public companies rather than carry out their purported business plans. Some of these shells begat eventual promotion subjects CCGI, YESD, IZEA, HLTD (trading as SOLS during promotion) BCST and YERR (trading as KIRI during promotion).
|Penny Stock Scumbag Attorney, Gregg Jaclin|
It is unknown whether parallel criminal criminal charges regarding the Jaclin-Husain shell scheme are forthcoming.