SEC Hits Mayor of Birmingham For County Bond Fraud

Law360, New York (April 30, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission launched a suit Wednesday against the mayor of Birmingham, Ala., and two of his close friends, accusing the trio of fraud involving millions of dollars in municipal bond deals.

The complaint, filed in the U.S. District Court for the Northern District of Alabama, alleges that Mayor Larry Langford accepted more than $150,000 from William Blount, a broker-dealer and municipal securities dealer, for funneling municipal bond offerings and swap agreements to his friend's firm.

The two worked together to secure the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.