The founder of an investment adviser firm took at least $11 million from clients and used $4.5 million to buy herself a Manhattan apartment, the SEC told a federal district court in New York.
Raquel Moura Borges and Global Access Investment Advisor LLC defrauded at least eight Brazilian clients between 2013 and 2018, the Securities and Exchange Commission says in a complaint filed Tuesday in the U.S. District Court for the Southern District of New York.
Borges sent forged letters to some clients’ financial institutions purportedly authorizing them to transfer client funds to her and Global Access, the SEC says. ...
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