SEC Suit Over $50M First Financial Scam Survives

Law360, New York (July 2, 2013, 9:12 PM EDT) -- The owner of First Financial Planning Corp. lost a bid to escape an SEC lawsuit accusing him of orchestrating a $50 million fraud on Monday, when a California federal judge rejected his argument that the land investments at issue didn't count as securities.

Attorneys for First Financial owner Louis Schooler had asked U.S. District Judge Gonzalo Curiel to throw out the suit because the interests Schooler allegedly sold to investors without disclosing material facts were not securities and the SEC therefore had no statutory authority to...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Schooler et al

Case Number



California Southern

Nature of Suit



Gonzalo P. Curiel

Date Filed

September 4, 2012


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.