Banker Sanctioned In $20M Fraudulent Bond Sale

Law360, New York (August 29, 2006, 12:00 AM EDT) -- An investment banker who allegedly conned investors into purchasing $20 million in fraudulent bonds has been sanctioned by the U.S. Securities and Exchange Commission, which ordered him to disgorge the profits from the sale.

Kenneth R. Martin, a banker with IBIS Securities LLC, oversaw the underwriting of the bonds, which were to be used to finance the construction of a private office building.

The U.S. District Court for the Western District of Washington entered a judgment against Martin in the civil case brought by the SEC....
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