Sucharow Tells Jury In SEC Suit He Saw 'Garbage,' Not Fraud

Law360, New York (May 1, 2019, 5:41 PM EDT) -- Class action lawyer Larry Sucharow told a Manhattan jury Wednesday he feared a “run on the bank” if he pulled his $500,000 stake from American Growth Funding II, but didn't think the lender was a fraud despite a “garbage” audit.

The Labaton Sucharow chairman emeritus took the witness stand during a civil trial before U.S. District Judge Kimba M. Wood, at which the U.S. Securities and Exchange Commission is trying to hold brokerage Portfolio Advisors Alliance Inc., its owner Howard Allen and executive Kerri Wasserman responsible for lying to American Growth Funding II investors. American Growth Funding II and its principal,...

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New York Southern

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February 3, 2016

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