A Texas man agreed to pay $40,000 to stave off Securities and Exchange Commission allegations he made $565,000 in unfunded deposits into accounts at four broker-dealers for trading at least $22.4 million of securities.
Cyrus P. Naderi consented to only opening brokerage accounts after submitting a copy of the SEC’s complaint and a final judgment from this enforcement action, according to the commission’s motion filed in the US District Court for the Southern District of Texas. He’ll be permanently barred from trading in a brokerage account that doesn’t have sufficient settled cash, according to the July 3 proposed judgment.
The ...
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