SEC charges New York investment firm and its founder with fraud

The Securities and Exchange Commission has charged New York-based Battery Private, an investment firm, and its founder Jeffrey Slothower with misappropriating more than $1 million from a client and prospective client and defrauding investors in two separate schemes, as well as submitting false information on SEC filings.

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The SEC’s complaint alleges that in Slothower’s first alleged scheme, he misappropriated more than $1 million from an advisory client and her spouse, a prospective client. In the second, he allegedly made material misrepresentations in connection with private sales of a penny stock owned by Battery Private.

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The SEC’s complaint further alleges that Slothower exaggerated the size of Battery Private’s regulatory assets under management in SEC filings.

The complaint seeks disgorgement of ill-gotten gains with prejudgment interest, civil penalties and permanent injunctive relief, among other remedies.

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The post SEC charges New York investment firm and its founder with fraud appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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