SEC v. Moynes, et al. (undisclosed control blocks, 2022)

Settled

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In June 2022 the SEC sued Canadian executive Bradley Moynes and Digatrade Financial over alleged concealed sales of Formcap and Digatrade stock into paid promotion. On March 8, 2023 the court entered consent judgments with injunctions, penny stock bars, an officer-and-director bar for Moynes, and money orders totalling over $3.4 million with relief defendant Vancap.

The record

What was ordered

Civil penalty

$307k

Disgorgement

$1.6m

Prejudgment interest

$387k

Total relief

$2.2m

Alleged gain

$1.5m

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on June 27, 2022 as release LR-25430. The respondents named are Moynes, et al. (1 individual, 0 entities).

The complaint alleged concealed ownership through foreign nominee companies, paid promoters and sales into the demand. No concealed-payment allegation is made.

This library tags the matter as undisclosed control blocks and pump and dump, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities.

Outcome. SEC litigation release LR-25661 (March 9, 2023) reports that the District of Massachusetts entered final judgments on March 8, 2023 against Moynes and Digatrade, by consent and without admission or denial. Both are enjoined from the Securities Act registration and antifraud provisions and Exchange Act Section 10(b), with penny stock bars; Moynes also receives a bar from serving as an officer or director and an injunction against participating in securities offerings. Moynes owes disgorgement of $1,042,407, interest of $253,868 and a penalty of $207,183; Digatrade owes $510,000, $133,309 and $100,000, of which $62,007 of the disgorgement is joint with Moynes; relief defendant Vancap Ventures owes $980,400 and $235,577 jointly with Moynes. The stored figures add the Moynes and Digatrade amounts and leave out Vancap's share, which overlaps Moynes's liability; the release totals the orders at over $3.4 million.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Undisclosed control blocks — see how it works, what statute it engages, and every other action tagged the same way.
• Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2022-06-27 Litigation release published
2. 2023-03-08 Final consent judgments entered against Moynes and Digatrade (LR-25661)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release LR-25661 (final judgments)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.