The US Securities and Exchange Commission proved that the founder of Kinetic Investment Group LLC raised millions of dollars in an unregistered, fraudulent securities offering, a Florida federal district court said.
Michael Scott Williams made several misrepresentations to investors and misappropriated funds in violation of securities laws, Judge Mary S. Scriven of the US District Court for the Middle District of Florida said in a Nov. 22 order, granting the SEC’s motion for summary judgment against Williams.
The amount Williams must pay in disgorgement and interest, and whether injunctive relief and civil penalties are appropriate, will be determined at a ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.