SEC Targets Mass. Investment Adviser For Fraud

Law360, New York (September 29, 2010, 6:16 PM EDT) -- The U.S. Securities and Exchange Commission has sued Benjamin Lee Grant, owner of Sage Advisory Group LLC, alleging that he committed securities fraud in order to lure brokerage clients from his former employer to his own firm.

The SEC accused Grant of fraud relating to material misrepresentations and omissions he made in letters sent to clients of Los Angeles-based Wedbush Morgan Securities Inc., according to a complaint filed Wednesday in the U.S. District Court for the District of Massachusetts.

Grant, a 38-year-old Boston resident, worked as...
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