Two Nassau, Bahamas-based companies have allegedly “reaped more than $10 million in profits” by dumping fraudulently issued shares on unsuspecting investors.
In a lawsuit filed in the US District Court for Southern Florida, the Securities and Exchange Commission (SEC) alleged that Bela Enterprises LLC and Gibson Island Enterprises LLC, which were both located in Nassau, had earned $1.4 million and $9 million in profits from selling stock in Bio-Heal.
Bio-Heal is listed on the Over-the-Counter Pink Sheets market in the US, and is alleged to develop natural healing products in Nicaragua.
