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: FinancialCounselMassachusetts Securities Regulator Files Complaint Against Securities America For Its Role In Selling Medical Capital Private Placements To Investors
By James Eccleston
In a complaint filed, the Massachusetts Securities Division says that Securities America misled investors when it sold millions in private placement securities for a company that purchased medical receivables. That company is known as Medical Capital. Securities America has denied the charges.
Medical Capital issued more than $1.7 billion in notes from 2003 to 2009, and Securities America sold 37% of that total. Securities America sold the notes to more than 60 Massachusetts residents who purchased approximately $7.2 million of them, it adds.
SNSFE attorneys continue to investigate the Medical Capital investment scam.
Source: Financial Advisor magazine
Full post as published by FinancialCounsel on February 17, 2010 (boomark / email).
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