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February 11, 2016

Posted  March 3, 2016

February 11, 2016 – The SEC charged unregistered broker Gregory Ruehle with fraudulently selling purported stock in medical device company ICB International while pocketing investors’ money and using it to pay gambling debts.  The SEC alleges that Ruehle raised approximately $1.9 million from over 100 investors by claiming that he would sell them his personally-owned securities in ICB International.  However, Ruehle sold far more shares than he in fact owned, owned shares that were non-transferable, and fabricated documents purportedly transferring the shares.  In a parallel action, the U.S. Attorney’s Office for the Southern District of California announced criminal charges against Ruehle.  SEC

Tagged in: Misrepresentations, Securities Fraud,