Try our Advanced Search for more refined results

Securities and Exchange Commission v. American Growth Funding II, LLC et al

  1. September 24, 2019

    SEC Scores $1.6M From Brokerage, Execs After Fraud Trial

    A New York federal judge on Monday ordered brokerage Portfolio Advisors Alliance and two executives to pay a combined $1.58 million in disgorgement, civil penalties and interest after a Manhattan federal jury earlier this year held them liable for lying to investors.

  2. May 15, 2019

    NY Jury Finds Brokerage, Execs Liable For SEC Fraud Claims

    A Manhattan federal jury held brokerage Portfolio Advisors Alliance and two executives liable Wednesday for selling $9 million of shares in a lender without being honest about the fact that the lender hadn't been audited, clearing the U.S. Securities and Exchange Commission to seek penalties.

  3. May 14, 2019

    NY Jury Mulls SEC Fraud Claims Against Brokerage, 2 Execs

    A Manhattan jury considered Tuesday whether to hold brokerage Portfolio Advisors Alliance and two of its principals liable for hawking $9 million of shares in lender American Growth Funding II without being honest about the fact that the lender hadn't been audited.

  4. May 01, 2019

    Sucharow Tells Jury In SEC Suit He Saw 'Garbage,' Not Fraud

    Class action lawyer Larry Sucharow told a Manhattan jury Wednesday he feared a "run on the bank" if he pulled his $500,000 stake from American Growth Funding II, but didn't think the lender was a fraud despite a "garbage" audit.

  5. April 30, 2019

    SEC Overreaches In Suing Broker For Sales Pitch, Jury Told

    Having settled with lender American Growth Funding II LLC, securities regulators are now overreaching by targeting the brokerage that earned $900,000 by pitching the lender to investors, the brokerage's lawyer told a Manhattan federal jury Tuesday.

  6. January 07, 2019

    SEC, Lender Reach Settlement On Eve Of Fraud Trial

    The U.S. Securities and Exchange Commission reached a settlement Friday with a Wall Street lending company in a suit over supposedly fraudulent securities offering documents, just one business day before a trial was set to begin, according to a New York federal judge.

  7. December 05, 2018

    Investor Loss Info Barred From Lender's Looming SEC Trial

    A New York federal judge said Tuesday that a Wall Street lending company cannot present evidence about its investors' monetary losses or profits in an upcoming trial over claims from the U.S. Securities and Exchange Commission that it raised millions of dollars through fraudulent offering documents.

  8. March 30, 2018

    SEC Must Take Securities Claims Against NY Lender To Trial

    A New York federal judge on Thursday denied a summary judgment bid from the U.S. Securities and Exchange Commission, saying that too many material disputes of fact exist in its suit against a New York lending company and that a jury should decide on the trustworthiness of the lender's CEO.

  9. February 03, 2016

    Lender Fleeced Investors In $8.6M Fund, SEC Says

    A New York lending company raised $8.6 million from investors while hiding alarming details about sinking loan values and falsely stating that its financial statements were being audited, the U.S. Securities and Exchange Commission said Wednesday in a lawsuit in New York federal court.