The SEC barred a former Wells Fargo advisor from the industry over allegations that he engaged in an ultimately failed stock manipulation scheme with two other men.

The regulator accused George Thoreson, 60, Richard Cedrone, 54, and Steven Ferris, 65, of engaging in a trading scheme to enable a company called Abakan to meet requirements to be listed on the Nasdaq. The Nevada-based manufacturing company's share price had to close at or above $2 for 90 consecutive trading days.

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