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Browse: Home / 2016 / June / 02 / Miami digs in against SEC as securities fraud civil trial looms | Miami Herald

Miami digs in against SEC as securities fraud civil trial looms | Miami Herald

By Securities Docket on June 2, 2016, 7:52 am

A civil securities fraud case against the city of Miami is coming to a conclusion this summer, nearly seven years after federal investigators began probing a series of questionable accounting maneuvers that temporarily masked a mounting financial crisis at the city.

And though evidence suggests Miami officials temporarily shifted highly restricted funds into bleeding operating accounts to mask losses in the late 2000s — all the while assuring bond investors their finances were still rosy — the city appears intent on fighting the Securities and Exchange Commission all the way to a jury trial.

via Miami digs in against SEC as securities fraud civil trial looms | Miami Herald.

Posted in SEC, Top | Tagged Municipal Securities

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