Promulgations » Jurist » SEC charges 10 brokers with mortgage-backed securities fraud

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Jurist

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  SEC charges 10 brokers with mortgage-backed securities fraud

  Posted: May 29th, 2009, 7:15am MSD by Andrew Morgan

  Tags:    [edit]

  [JURIST] The Securities and Exchange Commission (SEC) [official website] on Thursday charged 10 brokers [complaint, PDF; press release] with fraud for misleading customers into investing in high-risk mortgage securities. According the SEC, brokers from the defunct Brookstreet Securities Corporation held out collateralized mortgage obligations (CMO) [SEC backgrounder], which the SEC says are