The Securities and Exchange Commission said the San Francisco bank failed to disclose an important financial gap facing Schilling’s startup, 38 Studios, to bond investors who lost money in the high-profile 2012 collapse. The civil complaint, filed in Rhode Island federal court, also charges the Rhode Island Economic Development Corporation (RIEDC), a state agency, with defrauding the same municipal bond investors.
‘Enforcement 40’ for 2020
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