Global Online Direct Defrauded Thousands: SEC

Law360, New York (July 9, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has amended a complaint filed against online investment company Global Online Direct Inc. and its two principals, asserting that the company was operating a Ponzi scheme that defrauded over 9,400 investors out of $45 million, the SEC said Friday.

The Commission filed its amended complaint in the U.S. District Court for the Northern District of Georgia on July 3, three months after filing its original claims against Global and its co-owners, Bryant E. Behrmann and Larry “Buck” E. Hunter. While...
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