SEC issues cease-and-desist order against split-cycle engine developer Scuderi Group for violations of Securities Act
Green Car Congress
JUNE 1, 2013
The SEC said that Scuderi raised the $80 million from individual investors and investment clubs from 2002 to 2012 through at least six offerings in which it sold “preferred units” to at least 415 investors. Scuderi Group conducted, in essence, one continuous offering for over eight years, from January 2004 through July 2012.
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