Law360, New York (June 12, 2012, 9:25 PM ET) -- Federal regulators on Tuesday accused 14 sales agents of earning some $52 million by misleading investors into buying securities from a New York investment firm that was part of a $415 million Ponzi scheme that has already sent its orchestrator to prison.
In a complaint filed in New York federal court, the U.S. Securities and Exchange Commission claimed that the agents, who include four groups of siblings and others from New York and Florida, solicited investors in their four-year run by promising them unrealistic returns of...
SEC Targets Sales Reps For Roles In $415M Ponzi Scheme
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