Adviser Ordered To Pay $1.9M In Fake Swiss Firm Scam

Law360, New York (June 30, 2011, 9:52 PM EDT) -- A Rhode Island federal judge on Thursday ordered a Newport, R.I., woman to pay back nearly $1.9 million that her investment advisory firm earned by creating a fictitious Swiss client to bolster its image.

His order ends the suit, which the U.S. Securities and Exchange Commission brought in March 2009 against Leila Jenkins and the company she owns, Locke Capital Management Inc. The SEC accused Jenkins of violating several securities fraud and investment advisor statutes.

Jenkins' “bald assertions and loosely spun tales” did not convince U.S....
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Case Information

Case Title

Securities and Exchange Commission v. Locke Capital Management, Inc. et al


Case Number

1:09-cv-00100

Court

Rhode Island

Nature of Suit

Securities/Commodities

Judge

William E Smith

Date Filed

March 8, 2009

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