Texas Bond Seller Reaches Deal In $52M SEC Suit

Law360, New York (August 23, 2011, 2:35 PM EDT) -- Texas investment guru Brian A. Bjork inked a settlement Tuesday with securities regulators over claims he bilked investors out of $52 million by hawking fake high-yield bonds with a partner who apparently killed himself last month.

Bjork, who allegedly defrauded more than 100 investors by claiming his bonds would yield 9 percent, consented to a permanent injunction barring him from future securities violations. He also agreed to pay as-yet-undetermined disgorgement and civil penalties.

The U.S. Securities and Exchange Commission describes Bjork as the CEO of Select...
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