SEC Wins Suit Against BBC Equities For $50M Ponzi Scheme

Law360, New York (March 6, 2014, 6:03 PM EST) -- Ruling in favor of the Securities and Exchange Commission, a Michigan federal judge on Thursday ordered the former leaders of BBC Equities to pay more than $8 million in disgorgement and fines for their role in running a $50 million real estate Ponzi scheme.

District Judge David M. Lawson granted the SEC’s motion for summary judgment seeking damages, fines, disgorgement and injunctive relief against John J. Bravata, Richard J. Trabulsy, Antonio M. Bravata, BBC Equities LLC and Bravata Financial Group LLL for their unlawful sale of...
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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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UK Financial Services

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