Pennsylvania County Asks SEC, State to Probe Muni Deals

Hume, Lynn
October 2004
Bond Buyer;10/27/2004, Vol. 350 Issue 31998, p5
Trade Publication
The article reports that officials in Pennsylvania's Northumberland County yesterday asked the Securities and Exchange Commission and state regulators to investigate $53 million of bonds issued by the county. The request comes after taxpayers raised concerns about the use of the bonds and alleged that excessive fees were paid to transaction participants, some of whom made significant political contributions to former county commissioners. One impetus for the taxpayer group's push for an SEC investigation was its discovery that the commission had filed securities fraud charges against some of the firms that participated in their bond deals in connection with another county's bond deal.


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