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SEC Accuses 2 Investment Groups Of $51M In Fraud

Law360 (March 11, 2009, 12:00 AM EDT) -- Federal agents on Wednesday cracked down on two investment concerns – one on each coast – accusing them of running unrelated Ponzi schemes valued at a total of $51 million.

The U.S. Securities and Exchange Commission filed complaints in the U.S. District Court for the Eastern District of California and the U.S. District Court for the Western District of Virginia.

In the California case, the agency accused Anthony Vassallo and Kenneth Kenitzer, who run Equity Investment Management and Trading Inc., of using than $40 million raised...
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