Defendants in a purported real estate investment scheme struck a deal Jan. 10 with the Securities and Exchange Commission to extinguish charges that they defrauded investors out of $3.5 million (SEC v. Dobens, D. Mass., 10-10360).
In 2010, the SEC sued Kathleen and Charles Dobens and Joseph Roche, as well as several related entities, in the U.S. District Court for the District of Massachusetts, alleging that the defendants sold bogus real estate investments to 60 customers. Instead of investing the money, the agency charged, the defendants used it to pay other investors and diverted some of the funds ...
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