SEC Fines Energy Cos. Over Ponzi Scheme

Law360, New York (August 14, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission reached a settlement Monday with a group of energy and finance companies that allegedly participated in an extensive Ponzi scheme.

Three energy companies, Tri Energy Inc., H&J Energy Company Inc. and La Vie D'Argent, will pay civil penalties, to be determined by the federal court that tried the case at a later date, the SEC said.

The financial companies DJM LLC, Financial MD Inc. and Financial MD and Associates, which were also allegedly involved in the scheme, will pay a...
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