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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 Fingerâ€™s investors, mainly family and friends, lost $1.9 million due to his â€śimproper tradingâ€ť and that he took another $2.1 million in commissions to help fund a lavish lifestyle â€“ 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. Fingerâ€™s attorneys say in a statement issued to Public Data Ferret that heâ€™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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