The US Securities and Exchange Commission is suing Spartan Trading Co. LLC and the estates of its founders to recover about $3.7 million raised from investors through an alleged fraudulent day-trading scheme.
Spartan operated as an unregistered investment fund where money was pooled from investors purportedly for day trading activities in stocks, the complaint filed Thursday in the US District Court for the District of Minnesota said.
Dale and Dominick Dahmen allegedly told investors that Richard Myre would be responsible for the trading to generate profits, the complaint said. From 2019 to 2023, Spartan allegedly raised more than $3.7 million ...
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