Salesman Ordered to Pay Back $1.74 Million
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A federal judge in Los Angeles ordered a former Westlake Village investment salesman to pay back $1.74 million that he allegedly raised by selling unregistered securities to Michigan investors, the Securities and Exchange Commission announced Wednesday.
The order to Gerald Rogers, issued by Judge Dickran Tevrizian, came in response to a complaint filed by the Chicago office of the SEC in January, 1990. The SEC did not specify how the money would be distributed.
The complaint alleged that Rogers, as president of a firm named Eurobond Exchange Ltd., sold unregistered Eurobonds and “made material misstatements and omissions concerning, among other things, the risk associated with the investment,” the SEC said.
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