Tweet
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21003 / April 15, 2009
SEC v. Michael E. Kelly, et al., Case No. 1:07-CV-4979 in the United States District Court for the Northern District of Illinois
Court Permanently Enjoins Michael E. Kelly in SEC Action Arising From $428 Million Securities Fraud That Targeted Senior Citizens and Retirement Savings
Michael E. Kelly, et al.: Lit. Rel. No. 21003 / April 15, 2009
The SEC's complaint alleges that from 1999 until 2005, Kelly and others raised at least $428 million through the Universal Lease scheme from investors throughout the United States (Universal Leases were structured as timeshares in several hotels in Cancun, Mexico, coupled with a pre-arranged rental agreement that promised investors a high, fixed rate of return).
Litigation Release No. 21003 / April 15, 2009
SEC v. Michael E. Kelly, et al., Case No. 1:07-CV-4979 in the United States District Court for the Northern District of Illinois
Court Permanently Enjoins Michael E. Kelly in SEC Action Arising From $428 Million Securities Fraud That Targeted Senior Citizens and Retirement Savings
Michael E. Kelly, et al.: Lit. Rel. No. 21003 / April 15, 2009
The SEC's complaint alleges that from 1999 until 2005, Kelly and others raised at least $428 million through the Universal Lease scheme from investors throughout the United States (Universal Leases were structured as timeshares in several hotels in Cancun, Mexico, coupled with a pre-arranged rental agreement that promised investors a high, fixed rate of return).
Comment