The U.S. Securities & Exchange Commission this week accused a coterie of lawyers of securities fraud in connection with nearly $1.7 million in illicit stock sales involving PixarBio.
The scheme began in the fall of 2014, the SEC alleged, when Connecticut lawyer Henry Sargent formed a shell company called BMP Holdings and coaxed $1,680 from a group of thirty-two friends, family members and co-workers, selling 168,000 shares of BMP stock at a penny apiece.
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