SEC Sets Gilman Fair Fund Plan

GilmanCiocia logoThe SEC has established a proposed Fair Fund plan via which disgorgement, prejudgment interest and civil penalties will be distributed to those who claim they suffered losses from the purchase of variable annuities sold fraudulently by GilmanCiocia, subsidiary Prime Capital Services and four representatives. CEO Michael Ryan and Chief Compliance Officer Rose Rudden have been barred from supervisory capacity in any broker dealer or investment advisor for one year in the same case.



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