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State Attorney General announces further actions in investment scheme


State Attorney General announces further actions in investment scheme
State Attorney General announces further actions in investment scheme
New Jersey Attorney General Gurbir S. Grewal has announced several actions by the New Jersey Bureau of Securities in its ongoing investigation of the now-defunct First Standard Financial Company, LLC, of Red Bank, a broker-dealer whose agents defrauded customers as part of an excessive trading scheme, according to a press release.
In early December, First Standard agreed to relinquish the lion’s share of its liquid assets – about $400,000 – to provide restitution to investors. The bureau previously revoked First Standard’s broker-dealer registration after finding that First Standard was complicit in its agents’ unlawful conduct, and took action against a number of the agents individually, according to the press release. ....

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