Shane Schmidt

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26588 / July 17, 2026 Securities and Exchange Commission v. Nelson Gomes et al. , No. 20-cv-11092 (D. Mass. filed June 9, 2020) SEC Obtains Final Consent Judgment as to Individual in Alleged Microcap Fraud Scheme On July 17, 2026, the United States District Court for the District of Massachusetts entered a final consent judgment as to Shane Schmidt in a previously-filed action against 11 defendants alleging a fraudulent microcap scheme. The Commission’s complaint , filed on June 9, 2020, alleged that Schmidt engaged with others in a fraudulent scheme to dump the securities of a microcap company, Sandy Steele Unlimited, Inc. According to the complaint, Schmidt used an alias to secretly operate Sandy Steele and created a false and misleading company website. Schmidt allegedly facilitated the distribution of Sandy Steele shares to his associates who then allegedly sold the shares during a false and misleading promotional campaign. Schmidt consented to the entry of a final judgment enjoining him from violating the antifraud provisions of Section 17(a)(1) and 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, ordering him to pay $15,802 in disgorgement, which is deemed satisfied by the forfeiture judgment imposed against Schmidt in a parallel criminal case, United States v. Schmidt , No. 25-cr-10046 (D. Mass), and imposing a penny stock bar against him. The Court previously entered judgments by consent against defendants Douglas Roe, Kelly Warawa, Nelson Gomes, Michael Luckhoo-Bouche, and Atlantean Management Corporation and judgments by default against FFS Capital Limited, Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited, and Thyme International Limited. The SEC’s litigation, which is now complete, was handled by Kathleen Shields in the SEC’s Boston Regional Office. Resources <ul class="field