Securities regulators charge Tampa company, CEO with misleading Covid-19 claims
May 15, 2020 - The Securities and Exchange Commission has filed a complaint in federal court in Tampa against Turbo Global Partners and its CEO, Robert Singerman. The complaint, filed Thursday, follows an earlier action by the SEC to suspend trading in the Tampa company’s stock, which trades over the counter under the ticker symbol TRBO. The complaint said Turbo Global issued false and misleading press releases on March 30 and April 3 claiming the company had an agreement to sell technology that could be used to look for early signs of Covid-19. The complaint said Singerman drafted the releases, and the day after they were issued the company’s stock price and trading volume increased. The SEC wants a permanent injunction barring the company from violating federal securities laws as well as civil penalties. The SEC also said Singerman, who previously was enjoined from violating federal securities laws, should be prohibited from serving as a director of a publicly traded company.