We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Adviser Settles With SEC Over Defrauding His Family

Law360 (September 30, 2008, 12:00 AM EDT) -- A Tennessee-based investment adviser alleged to have defrauded his own relatives out of nearly $680,000 in a stock match order scheme settled U.S. Securities and Exchange Commission claims against him on Friday.

The SEC alleged in a Thursday complaint in the U.S. District Court for the District of Columbia that Thomas J. Smith, 51, of Franklin, Tenn., managed $6 million from three relatives and committed the fraud from March 2002 through December 2004. Smith consented to the charges that he operated a match order scheme without...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.