What do you think about this case

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Reference no: EM131799880

What do you think about this case?

Securities and Exchange Commission v. Christopher J Hill, No. 1:15-cv-23489. A federal court out of Miami, FL returned a verdict against Christopher J. Hall. He was found be liable for violating the antifraud provisions of the fraudulent securities laws.

It was alleged by the SEC that Christopher J. Hall. , from 1999 to 2008, obtained tens of millions of dollars in margin loans from the brokerage Pension Financial Solutions, Inc., (US SEC, 2017). He then used these funds to purchase municipal bonds and to fund his racetrack's operating expenses.

When the financial crisis occurred in 2008, Hall's margin loans plummeted in value and he then pledged additional collateral to support his margin debt.

He continued to lie to Pension Financial Services on his additional collateral while obtaining 5.5 million dollars in additional loans and other payments from the firm in a fraudulent manner, (US SEC, 2017).

Reference no: EM131799880

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