CFTC, SEC Accuse NC Couple Of $23M Ponzi Plot

Law360, New York (August 5, 2009, 5:53 PM EDT) -- The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission have sued investment company owners Sidney and Charlotte Hanson, accusing the couple of orchestrating a Ponzi scheme that defrauded roughly 500 investors out of more than $22.5 million.

The regulators filed separate complaints for injunctive relief Tuesday in the U.S. District Court for the Western District of North Carolina.

The CFTC alleged that the pair, through their company, misappropriated and fraudulently solicited customer funds, while the SEC accused them of fraud and making unregistered securities...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.