Long Island Mayor Faces Securities Fraud Charges

Law360, New York (August 29, 2008, 12:00 AM EDT) -- The head of a New York investment firm, who is also the mayor of a Long Island village, was indicted Thursday on charges of securities fraud and altering documents to obstruct a U.S. Securities and Exchange Commission investigation.

George M. Motz, the chairman, chief executive officer and president of Melhado, Flynn & Associates, engaged in a stock “cherry-picking” scheme from 2000 through 2005, according to the 10-page indictment.

“The defendant’s scheme tilted the playing field to the advantage of favored investors at the expense of the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.