SEC Sues Over Alleged $67M Real Estate Note Scheme

Law360, New York (April 2, 2009, 12:00 AM EDT) -- Claiming that the defendant “blatantly lied” in soliciting about $67 million for a purported real estate securities-based investment scheme, the U.S. Securities and Exchange Commission has filed suit against a former certified public accountant and has demanded an immediate temporary restraining order to freeze his assets despite an ongoing Chapter 7 bankruptcy proceeding.

On Thursday, the SEC filed a suit in the U.S. District Court for the District of Arizona alleging securities fraud by the former CPA, Dan Wise, whose license was allegedly revoked in December,...
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