|
COPYRIGHT 2005 The Miami Herald
Byline: Jane Bussey
Mar. 30--Two South Florida financiers, who allegedly enticed thousands of Latin Americans to invest $127 million in funds with patriotic names such as Liberty Trust, were accused Tuesday by the Securities and Exchange Commission of running a "sham" scheme to enrich themselves.
The SEC charged that Coral Gables financial executives Luis M. Cornide and Robert de la Riva, directors of Pension Fund of America, misrepresented fees and costs to investors, distributed vital investment information in English only and forged documents to gain the trust of Central and South American investors.
The complaint cited 3,400 alleged victims, but this number could grow because institutional investors, including Guatemalan social security and military pension funds, also placed money with the Pension Fund...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
