According to the SEC’s complaint, Michael and Brian Quigley convinced overseas investors to send money to U.S. bank accounts for purported investments in various securities, including well-known issuers, investment funds and penny stock companies, and claimed to be associated with entities that did not in fact exist, including fictional broker-dealers. The SEC alleges that the Quigleys did not make any investments with the money, and instead simply stole the investors’ funds.
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