McGinn-Smith Assets Frozen In SEC Fraud Case

Law360, New York (July 8, 2010, 3:01 PM EDT) -- A judge has agreed to freeze the assets of two New York brokers the U.S. Securities and Exchange Commission has accused of raising more than $136 million through unregistered debt offerings and surreptitiously funneling the investments into entities they owned and other nonpublic and illiquid structures.

U.S. Magistrate Judge David Homer granted the SEC's request for a preliminary injunction barring defendants Timothy McGinn and David Smith and their companies McGinn Smith & Co. Inc., McGinn Smith Advisors LLC and McGinn Smith Capital Holdings Corp. from accessing...
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.