5 hours ago
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Key Takeaways
- SEC says neither firm was registered with it.
- Fake certificates pointed to real SEC filing records.
- 60% monthly returns would mean 281x a year.
- Utah warned about the scheme in March.
The SEC filed its civil enforcement action on October 29 and published a litigation release on October 30. The accusations remain allegations in a pending case.
A real record behind a false claim
The pitch relied on a check that sounds sensible: look the company up on an official government website. According to the SEC, investors were shown certificates claiming each business was licensed, and each carried a real identifier. The
English (US)