SEC issues cease-and-desist order against split-cycle engine developer Scuderi Group for violations of Securities Act
Green Car Congress
JUNE 1, 2013
With more than 90 of the company’s investors being non-accredited investors (Reg D Rule 506 sets a limit of 35 non-accredited investors when the offerings are integrated), the Scuderi Group engaged in several practices that improperly reduced the number of non-accredited investors recorded on its books, the SEC charged.
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