Online charter broker attracts SEC scrutiny | Aviation International News

Charter & Fractional

Online charter broker attracts SEC scrutiny

The Securities and Exchange Commission (SEC) suspended the trading of Connect-A-Jet securities for 11 days last month, from October 1 to October 12, due to

By Jennifer Harrington

October 31, 2007

The Securities and Exchange Commission (SEC) suspended the trading of Connect-A-Jet securities for 11 days last month, from October 1 to October 12, due to alleged “deceptive practices” by the online charter broker. The SEC institutes a suspension when questions arise regarding a company’s assets, operations or financial information, Paul Montoya, assistant regional director of the commission’s division of enforcement, told AIN.

“It appears that the market for Connect-A-Jet securities may be reacting to manipulative forces,” the SEC stated, “and…there is a lack of current and accurate information about Connect-A-Jet upon which an informed investment decision can be made.” The SEC also said there appeared to be “inaccurate assertions by Connect-A-Jet in publicly disseminated press releases and on Connect-A-Jet’s Web site about, among other things, the existence of the company’s partnerships and affiliations with aviation companies.”

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