Suit Targets Broker-Dealer Over $2B Ponzi Scheme
By Christopher Norton ( October 2, 2009, 11:58 AM EDT) -- An investor has launched a putative class action accusing broker-dealer Securities America Inc. of failing to perform due diligence on hundreds of millions of dollars in notes sold for a medical receivables company, which turned out to be a $2 billion Ponzi scheme that "brought down the wrath of" the U.S. Securities and Exchange Commission....
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