FTC Capital Execs Charged With Securities Fraud

Law360, New York (May 20, 2009, 12:00 AM EDT) -- Two FTC Capital Markets Inc. executives have reportedly been charged with participating in an alleged fraudulent scheme to bilk investors of hundreds of millions of dollars by misrepresenting the types of securities they were investing in.

FTC Capital's chairman and former CEO, Guillermo Clamens, and the company's operations manager, Nazly Cucunuba Lopez, have been criminally charged with conspiracy, securities fraud and wire fraud, Dow Jones reported Wednesday, citing sources familiar with the investigation.

A raid of FTC Capital's Manhattan offices was conducted by the U.S. Postal...
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