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. 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.
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