From Seattle writer and consultant Matt Rosenberg...

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Public Data Ferret: Bellevue man charged with securities fraud

September 14, 2011

Attorneys for the U.S. Securities and Exchange Commission filed a legal complaint Sept. 8 in U.S. District Court in Seattle against Richard A. Finger, 32, of Bellevue, Wash. for defrauding investors in the Kirkland, Wash. securities trading firm he ran of about $4 million over a seven-month period in 2011, through a high-volume, high-risk trading scheme. SEC attorneys allege in the complaint that Finger’s investors, mainly family and friends, lost $1.9 million due to his “improper trading” and that he took another $2.1 million in commissions to help fund a lavish lifestyle – while falsifying account balances, underreporting commissions, and forging documentation to a suspicious trading partner. Federal criminal charges of wire fraud were also filed against Finger, punishable by up to 20 years in prison. Finger’s attorneys say in a statement issued to Public Data Ferret that he’s admitted deceiving customers, apologized to them and will reimburse them as best he can. More at Public Data Ferret.

Posted by Matt Rosenberg at September 14, 2011 03:22 PM

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