The United States District Court for the District of Massachusetts has ruled against California resident Kevin C..Dills and two entities controlled by Dills make final judgment。

The U.S. Securities and Exchange Commission (SEC) charged Dills and Joseph Padilla in June 2023 with involvement in a fraudulent stock sale scheme.。

According to the indictment, Padilla participated in a fraudulent scheme for his own benefit, while also representing individuals who paid Padilla to arrange illegal stock sales.。The men hid their identities by selling shares through offshore accounts of different names arranged by Padilla。

From early 2020 to 2022, Dills allegedly conspired with Padilla to sell Oncology Pharma, Inc..According to the indictment, Dills, through two other entities he controlled, Bright Star International, Inc..

Dills allegedly transferred shares to individuals associated with Padilla and then collected proceeds from illegal stock sales from Padilla.。During that time, Dills allegedly used his influence with Oncology Pharma to get the company to issue press releases designed to make its stock more attractive to investors.。

The complaint alleges that Dills divided its ownership of Oncology Pharma between two front companies, transferred shares to Padilla, and then shared the proceeds of Padilla's illegal sales, deliberately circumventing the registration requirements of federal securities laws.。

Dills agrees to a final judgment that permanently bars him from contravening sections 5 and 17 (a) of the Securities Act of 1933 and Rule 10 (b) et seq. of Rule 10b-5 of the Securities Exchange Act of 1934。

The judgment also provided for a fairy stock ban and additional injunctive relief, and ordered Dills to pay a $223,229 fine, and ordered Dills to pay a $6,225,448 fine and $786,645 in prepaid interest jointly and separately with Bright Star International and Life Sciences Journeys.。

The court also made a final judgment on the relief of the defendants Bright Star International and Life Sciences Journeys by consent, ordering them to pay jointly and severally with Dills $6,920,345 and $91,747 in fines and pre-trial interest, respectively.。

The verdict provides that the fine may be offset by an amount that Dills separately agreed to pay to the U.S. Attorney's Office for the District of Massachusetts in a plea agreement to resolve related criminal proceedings.。If the court does not accept Deere's plea agreement in criminal proceedings, Deere will owe the commission a full fine.。