SEC Settlement In $50M Fraud Suit Fails To Pass Muster

Law360, Los Angeles (July 15, 2013, 9:35 PM EDT) -- The Securities and Exchange Commission’s proposed deal with a former wealth management CEO who pled guilty to bilking real estate investors out of $50 million was rejected by a Michigan federal judge Thursday because the bargain didn’t address all the claims against him.

Richard J. Trabulsy pled guilty in 2011 to wire fraud in a scheme with his firm BBC Equities LLC, a Michigan firm that purported to invest in real estate. The SEC asked the U.S. District Court for the Eastern District of Michigan to...
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Case Information

Case Title

United States Securities and Exchange Commission v. Bravata et al


Case Number

2:09-cv-12950

Court

Michigan Eastern

Nature of Suit

Securities/Commodities

Judge

David M. Lawson

Date Filed

July 26, 2009

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