SEC Charges New Defendant, Jason Sugarman, in $43 Million Tribal Bonds Scheme

SEC Charges New Defendant, Jason Sugarman, in $43 Million Tribal Bonds Scheme

Washington DC (STL.News) – The Securities and Exchange Commission today charged a Los Angeles man for his role in a fraudulent scheme to gain undisclosed control over two registered investment advisers so that he, his partner, and their associates could steal $43 million of client funds they purported to invest in Native American tribal bonds.

The SEC alleges that Jason Sugarman, formerly associated with a registered broker-dealer and investment adviser, directed the scheme along with Jason Galanis, whom the SEC has previously charged with securities fraud. 

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