Thursday, March 18, 2010


O.C. firm to settle Ponzi suit with SEC

An Orange County investment advisor and his firm agreed Wednesday to pay more than $100,000 to settle charges by the Securities and Exchange Commission that they placed clients into what turned out to be a Ponzi scheme run by disgraced Democratic fundraiser Norman Hsu.

The SEC alleged that Paul H. Heckler and his Tustin firm, Yosemite Capital Management, defrauded clients by conducting inadequate research before investing $3.25 million in a company that secretly fed clients into Hsu's Ponzi scheme...

LA Times: O.C. firm to settle Ponzi suit with SEC

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