SEC issues cease-and-desist order against split-cycle engine developer Scuderi Group for violations of Securities Act
Green Car Congress
JUNE 1, 2013
Scuderi’s business plan is to develop, to patent, and to license its engine technology to OEMs and engine manufacturers. Between 2008 and 2011, a period when Scuderi Group sold more than $75 million in securities despite not obtaining any revenue, Mr. Scuderi authorized more than $3.2 —SEC order (Release Nº 33-9407).
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