The SEC halted a Miami man’s allegedly fraudulent securities offering and misappropriation of investor funds after a Florida federal judge granted a temporary restraining order and asset freeze, according to court filings unsealed Wednesday.
David C. Coggins and his firm, Coral Gables Asset Management LLC, raised at least $1.85 million from investors before the Securities and Exchange Commission stepped in, a complaint filed in the U.S. District Court for the Southern District of Florida Aug. 19 said.
Coggins allegedly used $450,000 in investor funds to pay for a BMW, shopping, travel, expensive meals out, and divorce attorneys. The SEC secured ...
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