Florida has been a hotbed of high-yield note activity. Thursday, the Securities and Exchange Commission filed civil fraud charges in Ohio against five people connected with the company. Levy faces criminal fraud charges related to the sale of viatical investments through another company, American Benefits Services. The state also has been bringing cases, some of which have been settled. William Mann, William Wells and Richard Gregory Mann also agreed to a seven-year ban from the securities industry, she said.
Regulators say investors' best defense is skepticism.
St. Petersburg Times. All rights reserved.