SEC Accuses Nev. Lawyer Of $7M Merger Fraud

Law360, New York (December 15, 2010, 1:37 PM EST) -- The U.S. Securities and Exchange Commission has accused a Nevada attorney of orchestrating a reverse merger securities scheme in which he and others racked up $6.88 million in illicit profits.

In a complaint filed Tuesday in the U.S. District Court for the District of Nevada, the SEC contends that Marcus Luna, the manager of St. Paul Venture Fund LLC and owner of the law firm Luna & Vining APC, helped take Axis Technologies Inc. public and then used St. Paul Venture and other entities to reap...
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