SEC Cracks Down on CEO of Xtreme Fighting Championships, Inc. for Fraudulent Scheme

The Securities and Exchange Commission has announced that it filed charges against Florida-based Xtreme Fighting Championships, Inc. (Xtreme Fighting) and its CEO, Steve A. Smith, Jr., for allegedly engaging in a fraudulent scheme to illegally sell large amounts of Xtreme Fighting stock to the investing public. The complaint alleges that the stock sales were illegal because Smith and Xtreme Fighting's in-house counsel, who has since died, controlled the stock and sold it in transactions that