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by Mike Caswell

The Supreme Court of the United States has agreed to hear the case of Ongkaruck Sripetch, the Washington State stock tout known as "King Richards," after he was ordered to pay $3.3-million for a Canadian-linked pump-and-dump scheme. (All figures are in U.S. dollars.) The U.S. Securities and Exchange Commission claimed that Mr. Sripetch helped to boost VMS Rehab Systems Inc., an Ottawa company that supposedly made orthopedic seat cushions. Mr. Sripetch and three Canadians realized at least $6.6-million in illegal gains as paid tout sheets said the stock would be "soaring by over 200%."

In an order handed down on Jan. 9, 2026, the Supreme Court has agreed to hear Mr. Sripetch's appeal. The decision is a significant one for Mr. Sripetch, as the Supreme Court -- the highest level of appeal in the U.S. -- rejects most cases without ever hearing them. The order is also significant for the SEC, as the Supreme Court will be asked to rule on the SEC's powers as they relate to disgorgement orders, or those in which a defendant must hand over any ill-gotten gains.

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