August 1, 2014
The SEC obtained a final judgment requiring Richmond, Va.-based financial services holding company AIC Inc.
, its subsidiary brokerage firm Community Bankers Securities LLC
, and their CEO Nicholas D. Skaltsounis to pay nearly $70 million for conducting an offering fraud while selling AIC promissory notes and stock to numerous investors across multiple states, many of whom were elderly or unsophisticated brokerage customers. SEC