SEC Charges Trio With $52.7M Ponzi Scheme

Law360, New York (September 15, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has charged an attorney and two other promoters with securities fraud for allegedly conducting a $52.7 million Ponzi scheme in which the group sold bogus public equity investments and swindled investors out of more than $20 million.

In a complaint filed Monday in the U.S. District Court for the Central District of California, the SEC alleges that Jeanne M. Rowzee, James R. Halstead and Robert T. Harvey violated the securities and anti-fraud provisions of the Securities Act by selling phony...
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