SEC Moves To Sanction GlobeTel In Fraud Suit

Law360, New York (August 19, 2009, 4:41 PM EDT) -- The U.S. Securities and Exchange Commission has accused GlobeTel Communications Corp. of repeatedly ignoring its discovery requests in a suit accusing the company's former employees of faking $119 million in revenues.

The SEC moved to sanction GlobeTel on Tuesday in the U.S. District Court for the Southern District of Florida. The commission claimed the Fort Lauderdale, Fla.-based company ignored a March 16 court order and two subsequent written requests by the SEC to produce certain call detail records.

Those records relate to telecommunications earnings from Mexico,...
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