US City Charged with Fraudulent Public Statements


Tyler Durden's picture

SEC Charges Broke Harrisburg For Fraudulent Public Statements

Submitted by Tyler Durden on 05/06/2013 – 13:40

Just in case conventional wisdom thought there was some limit beyond which financial crime and fraud in the US would or could not cross, here comes the city of Harrisburg, bankrupt for nearly two years, proving everyone wrong as usual. ‘The Securities and Exchange Commission today charged the City of Harrisburg, Pa., with securities fraud for its misleading public statements when its financial condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”

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