SEC Wins Emergency Block On Suspected Securities Scam

Law360 (March 10, 2020, 7:55 PM EDT) -- The U.S. Securities and Exchange Commission has scored an early victory in a case against a Florida investment adviser accused of running a $39 million fraud scheme, with a Sunshine State federal court freezing the adviser's assets and putting the firm into receivership.

U.S. District Judge William F. Jung issued an order on Friday granting the SEC's bid to put a block on assets belonging to Kinetic Investment Group LLC and its managing member Michael Scott Williams, as well as the "relief defendants," a group of entities that were allegedly used to hold some of the ill-gotten gains.

"The court finds good...

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