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SEC Alleges Trio Bilked Investors Out of $10 Million in "Prime Bank" Scheme
The SEC has accused two Illinois men and one Indiana man of defrauding hundreds of investors in a "prime bank" scheme. One man already is serving a prison term on unrelated charges.
The Illinois men, Bill Wilson and Richard Collins, and the Indiana man, Jerome Coppage, told investors that they were investing in an overseas bank debentures trading program issued by the "top one hundred world banks". Instead, the men squandered the money on themselves, friends and family.
Source: Chicago Tribune, May 1, 2001
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
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