Statement Summary
On April 25, 2025, the SEC secured final judgments against Elliot Maza and John H. Ford for their roles in a fraudulent scheme that generated over $27 million through unlawful stock sales. Maza, as CEO, signed filings that concealed control by others, while Ford wrote misleading articles without disclosing his payment. Maza was banned from future violations, imposed with a $578,095 penalty, and barred from appearing before the SEC. Ford was similarly enjoined, banned from penny stocks, and fined $100,000. The case highlights the SEC’s efforts to combat market manipulation and ensure compliance with securities laws.
Original Statement
Elliot Maza; John H. Ford
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26308 / May 22, 2025
Securities and Exchange Commission v. Barry Honig, et al., 18 Civ. 08175 (S.D.N.Y. filed Sept. 7, 2018)
SEC Obtains Final Judgments Against Two Individuals in Market Manipulation Case
On April 25, 2025, the Securities and Exchange Commission obtained final judgments against defendants Elliot Maza and John H. Ford, who had been previously charged with participating in fraudulent schemes that generated over $27 million from unlawful stock sales.
The SEC’s complaint, filed in federal district court in the Southern District of New York on September 7, 2018, and amended on March 8, 2019, and March 11, 2020, alleged that Maza, as CEO of a public company controlled by other defendants charged in the action, signed public filings that concealed the group’s control. The complaint also alleged that Ford was paid by other defendants to write favorable and materially misleading articles about companies without disclosing his compensation.
Judgment Details
Maza consented to the entry of a final judgment permanently enjoining him from violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, imposing an officer-and-director bar and a penny stock bar, and ordering him to pay a $578,095 civil penalty. Maza also agreed to be suspended from appearing and practicing before the SEC as an attorney and as an accountant. The order does not provide Maza an express right to apply for reinstatement.
Ford consented to entry of a final judgment permanently enjoining him from violations of Securities Act Sections 17(a) and 17(b), and Exchange Act Section 10(b) and Rule 10b-5 thereunder, imposing a penny stock bar, and ordering him to pay a $100,000 civil penalty.
Investigation and Supervision
The SEC’s investigation was conducted by Katherine Bromberg of the SEC’s Boston Regional Office and Jon Daniels, Ricky Tong, and Michael Paley under the supervision of Thomas P. Smith, Jr., all of the SEC’s New York Regional Office. The litigation has been handled by Katherine Bromberg and supervised by Jack Kaufman, also of the SEC’s New York Regional Office.
For further information, see Press Release No. 2018-182, September 7, 2018, Litigation Release No. 24262, September 7, 2018, Litigation Release No. 24431, March 22, 2019, Litigation Release No. 24529, July 12, 2019 and Litigation Release No. 24765, March 11, 2020.
