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Long Island Mayor Faces Securities Fraud Charges

Law360 (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...
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