Real Estate Exec Can't Shed SEC Suit, Fla. Judge Says
Law360 (March 8, 2021, 9:02 PM EST) -- The chief executive of a purported Florida real estate company can't escape claims that he scammed 1,100 investors, some of them seniors, out of more than $170 million, a federal judge in Tampa ruled Monday.
U.S. District Judge Mary S. Scriven said in her order that EquiAlt LLC CEO Brian Davison's dismissal bid failed on all counts, which will allow the U.S. Securities and Exchange Commission's claims against him to proceed.
The SEC launched its allegations against Davison and his coworker, EquiAlt managing director Barry Rybicki, in February 2020, accusing the two men of overseeing a scheme in which prospective investors...
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