Quantcast
breaking news

Lubbock Businessman Faces SEC Lawsuit

By: Amy Montalvo
Updated: April 22, 2009
watch video

A Lubbock businessman is facing serious allegations and a civil lawsuit from the US Securities and Exchange Commission, after losing millions of investors' dollars. Benny Judah owns Excel Lease Fund Incorporated and is officially accused of collecting $40 million dollars from investors through misleading tactics and misrepresentation of investment values.

The SEC says he then used the money to pay loans to other companies he owed. He also allegedly used millions in investor proceeds to fund his day trading habit and reportedly lost 5 million dollars in the process. The SEC has frozen his assets and prohibited him from any future dealings with investors.

Comments

Readers Feel...

hello
Related Content

A community gathers to remember missing teen Hailey Dunn, who's remains were found just a few months ago. KLBK's Michaela MacDonald has more from Colorado City....

From Oklahoma City to Minneapolis, severe weather is threatening the nation's midsection on Sunday night....

(CBS News) WASHINGTON - There were new questions Saturday night concerning if anyone in the White House was aware of the IRS' targeting of conservative groups....

DES MOINES, Iowa It's all about the odds, and one lone ticket in Florida has beaten them all by matching each of the numbers drawn for the highest Powerball jackpot in history at an estimated...

Elliot Morales began his downfall early Saturday by urinating on the wall outside an upscale restaurant just a few blocks away from the Stonewall Inn, the site of 1969 riots that helped give to...

Graduation day is here and a new study shows why graduates should look for jobs in the Hub City. ...

(CNET) Facebook's freshman year as a public company played out like an MTV drama in which Mark Zuckerberg was forced to navigate through an awkward accommodation with the rough-and-tumble world of...

Washing your hands after using the bathroom might be a common practice to stop the spread of germs, but not many women may wash their hands after they put them in their purse. But, according to a by...

Aimee Copeland became a national story last year as she battled back from a flesh-eating infection that robbed her of her left leg, right foot and both hands....

WASHINGTON There's an irony in the Internal Revenue Service's crackdown on conservative groups....

 
 
 
 
 
©1998 - 2013 Everythinglubbock.com
Nexstar Broadcasting, Inc.
All Rights Reserved