SEC Freezes Brewer's Assets Amid Fraud Claims

Law360, New York (November 1, 2010, 1:27 PM EDT) -- The U.S. Securities and Exchange Commission has frozen the assets of Chicago-based Brewer Investment Group, which allegedly orchestrated a $5.6 million promissory note fraud.

The SEC obtained a temporary restraining order freezing BIG's assets and those of wholly owned broker-dealer subsidiary Brewer Financial Services LLC on Friday in the U.S. District Court for the Northern District of Illinois.

The order, which the SEC requested with the defendants' consent, is part of a suit filed Thursday accusing the companies and their principals of violating several sections of...
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