SEC v. Christopher Booth Kennedy

Christopher Booth Kennedy allegedly made false and misleading statements to his customers regarding the value and success of his trading strategy. According to the SEC, Kennedy's fraudulent conduct included sending one customer falsified account statements that grossly overstated the value of the customer's account. Kennedy also allegedly violated Reg Best Interest by recommending a short-term, high-volume investment strategy in 19 brokerage retail customer accounts without a reasonable basis for doing so. The SEC alleges that Kennedy's recommendations resulted in more than $9 million in customer losses.

Summary generated from official Securities and Exchange Commission press release