Law360, New York (July 10, 2007, 12:00 AM EDT) -- Co-owners of a Belize-based investment company have been tied into a suit by the U.S. Securities and Exchange Commission that alleges they duped thousands of investors by selling securities worth about $12 million in fraudulent and unregistered transactions through their online investment program since November 2005.
Trevor Reed and Clayton Kimbrell, who control CEP Holdings Inc., were sued for alleged securities violations by the SEC on Monday in the U.S. District Court for the Eastern District of North Carolina.
Regulators claimed that Reed and Kimbrell deceived...
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