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



Michigan Eastern

Nature of Suit



David M. Lawson

Date Filed

July 26, 2009


Government Agencies

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