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Article: SEC offers to settle fraud case against California county.(Nevada County, California)
- Article from:
- The Bond Buyer
- Article date:
- December 19, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The SEC has initiated talks with Nevada County, Calif., to settle threatened securities fraud charges in connection with the 1990 issuance of $9 million of Mello-Roos bonds that are now in default.
Nevada County legal and financial advisers said yesterday that county officials are considering the offer - the details of which were not disclosed - and they would likely make a decision later this week.
"At this point, the most I can say is that the offer is under consideration, but that the county very strongly feels that any action by the SEC is completely inappropriate," said George O'Connell, the lead attorney representing Nevada County.
The Securities ...
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