Justin Jeffries, Associate Regional Director for the SEC’s Atlanta Regional Office said:
Far too often, veterans and seniors who depend on their investments for retirement income are targeted by fraudulent schemes. As alleged in our complaint, Stow took advantage of these seniors, abusing his access to their brokerage accounts to generate income for himself.
The US regulator charged Stow in the US District Court with violations of the antifraud provisions of the federal securities laws. The Commission is seeking injunctive relief, the return of allegedly ill-gotten gains plus prejudgment interest and a civil penalty. In a parallel action, the US Attorney’s Office filed criminal charges against Stow.
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