Scammers Targeted ‘Lazy And Greedy' Investors, SEC Says

Law360 (September 27, 2019, 6:06 PM EDT) -- The U.S. Securities and Exchange Commission accused a pair of men Friday in Massachusetts federal court of using a suite of misleading websites, infomercials and spam to ensnare millions of investors in at least six fraudulent binary options marketing schemes they gave showy names like Automated Money Kit, Click Click Money and Guaranteed Wealth.

Peter Szatmari, 43, and David Sechovicz, 37, spent nearly three years orchestrating the scheme starting in January 2014, netting $3.8 million, the SEC says. Sechovicz settled with the regulator on Friday, agreeing to pay nearly $2 million in disgorgement and interest and a $950,000 civil penalty....

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