| Tipoffs for Dunwoody (Sandy Springs), Georgia (City) Newsletter for Tuesday November 01, 2022 ( 1 items ) |
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SEC Charges Incarcerated Felon and 5 Friends in $2 Million Fraud Scheme
WASHINGTON, Nov. 1 -- The Securities and Exchange Commission issued the following news release on Oct. 31, 2022:
The Securities and Exchange Commission today charged six individuals, including a federal inmate, for conducting a freeriding scheme that defrauded multiple broker-dealers.
The SEC's complaint alleges that from May 2019 to early January 2021, Syed Arham Arbab, 25, and five others made more than $2 million in bogus deposits from empty or underfunded bank accounts into various brokera
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