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SEC Halts Alleged $125 Million Offering Fraud

The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset…

Archivio · 2019-09-18

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The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities in connection with an alleged fraudulent, ongoing international trading program that has placed at risk more than $125 million of investor funds. According to the SEC's complaint, beginning in March 2016, Mediatrix Capital Inc. and its three principals, Michael S. Young, Michael S. Stewart, and Bryant E. Sewall, induced investors to invest by falsely representing that their money would be invested using a highly profitable algorithmic trading strategy that had never experienced an unprofitable month and had returned more than 1,600% since inception.

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