SEC Strikes Deal With Another China Voice Ponzi Player

Law360, New York (September 23, 2011, 4:46 PM EDT) -- The U.S. Securities and Exchange Commission on Friday settled with another player in the alleged $8.6 million Ponzi scheme run by telecommunications provider China Voice Holding Corp., the latest defendant to come to terms with the commission.

According to the consent decree, Gerald Patera, on behalf of himself and his two companies — Capital Bankers Group Ltd. and Third Securities Corp. — is neither admitting nor denying his role as a broker in the alleged scam but agreed to pay the disgorgement of his allegedly ill-begotten...
To view the full article, register now.