In the order, the SEC alleged that the three executives knew or should have known that offering documents in connection to certificates of deposits sold by Stanford International Bank were false or misleading. Instead, the SEC alleged, they encouraged their colleagues to use the incomplete offering documents to help sell the CDs.Read the full story here.
In a statement, Green’s lawyers, John Kincade and George Freeman, said that Green had no knowledge of the fraud. ...
Separately, on Friday the SEC settled allegations of securities fraud against Jay Comeaux, who managed the brokerage’s Houston branch office, according to a filing that instituted administrative proceedings against him.
Comeaux, who settled the case without admitting or denying the SEC’s findings, faces a bar from the industry, and may face penalties that have not yet been determined, the SEC said.
Comeaux was responsible for supervising the brokerage’s financial consultants, and received commissions of at least $1.3 million on the sales of fraudulent CDs, the SEC said.
According to the SEC, Comeaux knew that the bank wouldn’t disclose details of its investment holdings, but still used marketing material that told investors that the bank maintained a “well-diversified portfolio of highly marketable securities.”
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
The number of Louisianans with jobs continued to set records in September, but the state's unemployment rate kept rising.
Louisiana is drowning, quickly.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.
The Memphis based investment firm Wunderlich recently arrived in Louisiana with the opening of a wealth management branch in Lafayette.
Broussard will soon be the site of a new Courtesy Automotive dealership.