SEC Bars James Anglim

James Anglim (CRD #: 3040791) was barred by the SEC, as reported in his most recent BrokerCheck disclosure accessed on September 5, 2023. Further details regarding the bar are provided below.

SEC Bar: On August 15, 2023, the Securities and Exchange Commission (SEC) imposed a bar on James Anglim. The allegations leading to this bar state that from November 2016 to February 2022, Anglim engaged in market manipulation involving penny stocks. Penny stocks are low-priced stocks that are often targeted in manipulative trading schemes. It is alleged that he misused his position to assist “known securities laws violators” in illegally selling their penny stocks to unsuspecting investors.

Manipulative Scheme: Anglim allegedly purchased shares from these groups, being aware that his fellow stock manipulators would sell an equal number of shares. This trading activity created the appearance that the surge in trading volume was solely due to market demand for these stocks, artificially inflating their prices. Concurrently, the groups aggressively promoted these penny stocks.

Profits and Facilitation: Allegedly, Anglim’s foreknowledge of the groups’ trading activities allowed him to make risk-free profits for his firms’ accounts and occasionally for his personal brokerage accounts. He purportedly aided these groups in liquidating significant blocks of their stock for substantial profits.

Penalties: As a result of the SEC’s actions, James Anglim has been ordered to pay a disgorgement of $405,991 along with prejudgment interest amounting to $82,009.

Background Information: James Anglim holds multiple securities licenses, including Series 63, Series 57TO, Series 55, Series 7, and Series 24. He has worked for several firms during his career, including Paulson Investment Company, Spartan Securities Group, World Trade Financial Corporation, The Vertical Group, WM V. Frankel & Co. Incorporated, and Liberty Brokerage.