SEC, Justice File Lawsuits Over Bonds

Hume, Lynn
August 2003
Bond Buyer;8/29/2003, Vol. 345 Issue 31709, p1
Trade Publication
Reports that the U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) filed separate criminal and civil lawsuits in a federal court in Seattle, Washington on August 28, 2003 against participants in a 20 million dollar municipal bond issue involving the Holmes Harbor Sewer District, claiming they repeatedly misled investors about bonds which were found to have been illegally issued. Misleading statement constructed by the parties to the illegal issue; Reported usage of the proceeds of the illegal issue; Individuals and organizations named as defendants in the lawsuits; Background and details on the fraudulent issue.


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