SEC Says Pa. Financial Adviser Ran $30M Ponzi Scheme

Law360, New York (July 30, 2012, 4:12 PM EDT) -- The suburban Philadelphia-based Sarris Financial Group was hit with allegations that it duped investors out of $30 million by funneling their money into a massive Ponzi scheme in a suit filed Friday by the U.S. Securities and Exchange Commission.

In the complaint, filed in federal court in Pennsylvania, the SEC accused the company — owned and run by Emmanuel L. Sarris Sr. — of conning more than 70 people into investing in the "Kenzie Funds,” private funds purportedly invested in foreign currency. The funds actually were...
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Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. SARRIS et al


Case Number

2:12-cv-04272

Court

Pennsylvania Eastern

Nature of Suit

Other Statutes: Securities/Commodities

Judge

THOMAS N. ONEILL, JR

Date Filed

July 27, 2012

Government Agencies

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