SEC Charges 10 Ex-McGinn Smith Brokers In $125M Scheme

Law360, Los Angeles (September 23, 2013, 9:02 PM EDT) -- The U.S. Securities and Exchange Commission has charged 10 former bankers from McGinn Smith & Co. that the SEC says are at the center of a $125 million investment scheme, the commission announced Monday.

The announcement comes more than a month after a New York federal judge sentenced a founder of the company to 15 years in prison and another one to 10 years for stealing $4.1 million from clients and causing even bigger losses on investments.

Timothy McGinn will spend 15 years in prison and...
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Case Information

Case Title

Securities and Exchange Commission v. McGinn, Smith & Co, Inc. et al

Case Number



New York Northern

Nature of Suit



Gary L. Sharpe

Date Filed

April 20, 2010

Government Agencies

UK Financial Services

UK Financial Services

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