SEC Settles Claims of Serial Fraud; All Defendants Enjoined

The SEC found that defendant Hancher engaged in three separate fraudulent schemes, variously with the assistance of the co-defendants. The alleged schemes included: (1) an offering fraud in which at least 60 investors were defrauded of more than $1.8 million; (2) a scheme to manipulate the stock of LMWW Holdings, Inc., a company controlled by Hancher, through matched orders; and (3) a scheme that resulted in false books and records on the part of Cycle Country Accessories Corporation after Hancher lied to its auditor about a going-private, stock buyback he was paid to – but did not – execute. Defendant Hancher was also administratively barred.