The Securities and Exchange Commission barred an investment advisor from the industry because of sanctions imposed by the New Hampshire securities regulator and charged an electronics company executive with insider trading. It also charged an unregistered broker with fraudulent stock sales.
SEC: Fake Broker Sold Phony Stock to Pay Gambling Debt
The SEC has charged Gregory Ruehle, an unregistered broker in Oceanside, California, with fraudulent stock sales.
According to the agency, Ruehle raised approximately $1.9 million from about 100 investors after he claimed to be selling them stock in a medical devices company. However, he never delivered the stock, and in…
Read the full article at: http://www.thinkadvisor.com/2016/02/12/sec-enforcement-fake-broker-charged-with-selling-p