Admitted Felon’s Firm Settles With SEC: The...

Admitted Felon’s Firm Settles With SEC: The firm headed by admitted securities felon Salim B. (Sandy) Lewis will cease operations as a broker-dealer and set aside $1.15 million to settle administrative charges, the SEC announced. S. B. Lewis & Co. pleaded guilty Aug. 30 in New York to two securities law violations simultaneously with the guilty plea by Lewis, its managing partner, to stock manipulation and related charges. As part of the agreement, S. B. Lewis & Co. will place any money it has that is owed to Salim B. Lewis--up to $1.15 million--in escrow until all matters between the SEC, Lewis and the firm are resolved.