Amish Fund Dodges SEC Prosecution Over Stale Doc

Law360, New York (July 18, 2012, 7:15 PM EDT) -- The U.S. Securities and Exchange Commission has reached a deal with an Amish construction fund that will allow the nonprofit to avoid prosecution over a stale offering memorandum, the commission said Wednesday.

The Ohio-based Amish Helping Fund has entered a deferred prosecution agreement that will allow it to avoid facing SEC action over its failure to update its offering memorandum since its drafting in 1995.

Amish elders founded the fund that year to help further their way of life by providing construction and mortgage loans, but...
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