October 28, 2016 BY Valentina Kirilova
SEC: Investment Adviser Fraudulently Overbilled Clients, Stole Assets for Personal Expenses
The Securities and Exchange Commission (SEC) has charged a Los-Angeles based investment advisory firm and its owner with fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his home mortgage, overseas trips, and leases on two Mercedes-Benz vehicles. The SEC’s complaint alleges that Marc D. Broidy and his firm Broidy…
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