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.”
Potenza Marketing makes fastest-growing companies list.
Local 101 class Friday
“Byzantine” is the word members of the nominating committee for the local flood protection authority often use to describe the complicated, multi-layered matrix of qualifications that must be met to fill a vacancy on that board.
In the Pelican State, Benjamin Franklin buys you about $109 worth of stuff.
Brittan Bush joins Liskow & Lewis, Blake David installed as the Third District Member of the Louisiana State Bar Association’s board of governors, and Simien & Miniex announces 2014 scholarship winners.
“In some cases, we’ve found that these parts are nothing more than used junk yard parts. In others, we’ve found them to be foreign knock-off parts of questionable quality.”
The old Daily Advertiser building on Jefferson Street is being rehabbed as the owner prepares to move it back into commerce.
Its fourth leader gone after two years on the job, the facility struggles to balance the tension between its two missions.
Hub City Cycles hits the ground running through small-business center opportunity.
The future of the coastal loss lawsuit could rest in hands of board’s nominating committee.
Leaders from the local tech community ponder the question: What's missing from Acadiana's tech ecosystem?
AT&T’s U-verse heads our way. Here’s what it means for you.
LITE’s virtual environments are changing the way local employees learn how to do their jobs.
Local tech gurus will go the distance to call Lafayette home.
A look at recent hires, promotions and other news from Acadiana's business community.
New Johnston Street eatery catapults to No. 1 spot in nearly 200-location chain.
By identifying companies that match the output of its post-secondary educational institutions, Lafayette is creating opportunities that keep highly trained graduates in the area.
Gideon’s Promise lauds G. Paul Marx’s work to improve the quality of indigent defense and helps train five new public defenders.
What will INNOV8 4.0 look like?
Courtesy Ford is honored; EatLafayette fêtes itself
AG says 50-year-old Terry Francis Savoy sold fraudulent Workers Compensation and Employers Liability insurance policies throughout the state.
The state's jobless rate rose to 5.4 percent in July from 5 percent in June. Louisiana's unemployment rate was 6.4 percent in July 2013.
Oil Center eatery plans drive-thru location on Ambassador Caffery
Royal Dutch Shell has agreed to sell drilling rights in shale formations in Louisiana and Wyoming for $2.1 billion in two transactions.
Local skate shop collaborates with sneaker giant to create the "Crawfish Dunks"