CPA Brothers Draw SEC Fraud Suit

Mark Smith, CPATwo Texas brothers, who are CPAs, have been sued by the Securities and Exchange Commission for running what the SEC calls a "shell-factory" scheme that defrauded business owners. The SEC also suspended trading in the stock of four companies controlled by Charles E. Smith and his brother, Mark Smith, that they have not yet sold to others. the two have agreed to disgorge gains, pay civil money penalties and be barred from serving as officers of publicly held companies.

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