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Summaries and explanations of the latest regulatory compliance announcements, reports and related stories.
SEC Charges South Florida Spouses with $500M Scam
The Securities and Exchange Commission (SEC) filed an asset freeze to stop Lisa McElhone and Joseph W. LaForte’s fraudulent scheme worth $500 million. The scheme involved raising investor funds via unregistered securities offerings for Complete Business Solutions Group. Complete Business Solutions is a cash advance company that conducts business as Par Funding.