Brewer Defendants Didn't Follow Doc Request: SEC

Law360, New York (June 22, 2011, 3:12 PM EDT) -- The U.S. Securities and Exchange Commission said Tuesday in Illinois that Brewer Investment Group LLC and others involved in an alleged $5.6 million promissory note fraud should be held in contempt for not handing over documents.

BIG and the other defendants didn't take the proper steps to prevent documents from being destroyed when the now-defunct financial firm and its affiliates were being evicted from their offices, and haven't prepared accountings required by an Oct. 29 order, the SEC said.

The Oct. 29 order froze BIG's assets...
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