Geneva Capital Cheats Schools, Charges SEC

Law360, New York (April 5, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has accused Eric M. Westbury, owner of Geneva Capital Partners LLC, of swindling local funds earmarked for charter schools in Washington, D.C. and instead using the cash to save two failing subsidiaries.

In a complaint filed in the U.S. District Court for the District of Maryland, the SEC alleges that Silver Spring, Md.-based Geneva obtained investments of more than $21 million from the District of Columbia, in addition to federal funds, that were supposed to be used for the Credit...
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