SEC Files Securities Fraud Charges in $20 Million Case
The US Securities and Exchange Commission (SEC) has accused an Illinois business of defrauding investors in a $20 million stock offering that reportedly involved homeland securities products.Specifically, the government is alleging that that Gregory E. Webb and InfrAegis Inc. conducted a fraudulent and unregistered securities offering that raised a minimum of $20 million from at least 395 investors in 29 different states and Washington, DC.
Investors were reportedly told that InfrAegis was a successful company with good connections and contracts, but the company was actually only a start up.
The government is seeking an injunction and other damages in its lawsuit.
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