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Illinois Brokerage Firm Bilks Customers Out Of $11 Million
Geneva Securities, Inc., and officers Richard Eisenmenger and LeRoy Messenger are the subject of a SEC complaint.
The defendants allegedly founded companies, then sold them to their own brokerage firm clients. Additionally, the SEC alleges that defendants sold unsuitable investments to their clients, did so without their advance authorization, and diverted assets of customers to Geneva Securities affiliated companies.
Eisenmenger and Messenger have agreed to settle with the SEC. There will be no fines because the two men filed sworn statements saying they cannot afford to pay any fines.
Source: Daily Herald, October 3, 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
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P.C.(www.snsfe-law.com). This Web site contains material
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Always consult an attorney and/or investment advisor when building and protecting your wealth.
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