SEC Charges Firm With $250M Fraud

Law360, New York (November 20, 2007, 12:00 AM EST) -- A brokerage that allegedly bilked 1,200 investors of $250 million by touting phony deals with hotels and casinos has been hit with a suit by the U.S. Securities and Exchange Commission.

On Tuesday, the SEC filed a suit against E-M Management Co. LLC and firm owner and investment manager Edward May in the U.S District Court for the Eastern District of Michigan.

The complaint alleged that between 1998 and 2007, May used E-M to sell shares in limited liability companies that he claimed had been contracted...
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