Court Rules For SEC in Bradbury Case, But Dismisses Weiss Charges

Hume, Lynn
February 2005
Bond Buyer;2/28/2005, Vol. 351 Issue 32079, p1
Trade Publication
This article reports that the U.S. Securities and Exchange Commission (SEC) received two divergent rulings by administrative law judges in separate municipal enforcement cases, one a partial victory for the enforcement division that sanctioned broker-dealer Dolphin & Bradbury (D&B) for securities fraud, and the other a defeat for the division as charges against bond counsel Ira Weiss were dismissed. In the mostly favorable ruling for the SEC, administrative law judge James T. Kelly ordered Philadelphia based D&B and its chairman Robert J. 2 Bradbury to pay a total of almost $1 million in civil penalties and disgorgement of ill-gotten gains for violating the securities fraud laws by misleading investors about $75.35 million of now-defaulted tax-exempt bonds that the Dauphin County, Panama.


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