DOJ Targets $268M Hedgeloan Securities Plot

Law360, New York (September 22, 2010, 6:07 PM EDT) -- The U.S. Department of Justice has sued three East Coast investment firms in an effort to shut down what the agency described as a nationwide tax and loan scheme that involved the disguised sale of more than $268 million in securities.

According to a suit filed Wednesday in the U.S. District Court for the Eastern District of Virginia, Daniel Stafford, Fred R. Wahler Jr. and William Chapman, through their companies Hedgelender LLC, Alexander Capital Markets LLC and Alexander Financial LLC, operated the so-called Hedgeloan scheme, through...
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