- 2000
- $860,000
Defendants, a Lake Bluff, Illinois man and his company, allegedly engaged in a scheme to defraud clients by making material misstatements and omissions concerning the use of funds received for investments and insurance products, and the profitability of these investments. The SEC alleged that the funds were actually misappropriated for Ponzi payments and personal use. The SEC also brought an administrative proceeding against Defendant Conwell, who also was criminally charged.
