Litigation: SEC Vs. Lester Burroughs
December 05, 2019
December 05, 2019
WASHINGTON, Dec. 5 -- The Securities and Exchange Commission issued the following litigation release - SEC vs. Lester Burroughs, Civil Action No. 3:19-cv-01913-VLB (D. Conn. filed Dec. 4, 2019):
On December 4, 2019, the Securities and Exchange Commission charged a Connecticut investment adviser with misappropriating $560,000 from his advisory clients by selling fictitious financial products and using the proceeds to pay other advisory clients, as well as for his own use.
On December 4, 2019, the Securities and Exchange Commission charged a Connecticut investment adviser with misappropriating $560,000 from his advisory clients by selling fictitious financial products and using the proceeds to pay other advisory clients, as well as for his own use.