Money Laundering Bulletin
Chardan, broker-dealer fined $1m, AML officer $15,000 for penny stock reporting failures
Chardan Capital Markets LLC, a broker-dealer has been fined $1m [1] by the US Securities and Exchange Commission, and Jerard
Basmagy, its AML officer, $15,000, together with a three-year industry ban [2], for executing transactions in penny stocks
that bore the hallmarks of fraud.