{"id":4616,"date":"2008-06-03T12:03:57","date_gmt":"2008-06-03T12:03:57","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/06\/sec_charges_north_american_cle"},"modified":"2022-03-29T15:06:41","modified_gmt":"2022-03-29T20:06:41","slug":"sec-charges-north-american-cle","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-north-american-cle\/","title":{"rendered":"SEC Charges North American Clearing, Inc. With Misusing Customer Funds"},"content":{"rendered":"

\t\t\t\tThe U.S. District Court for the Middle District of Florida has granted the Securities and Exchange Commission’s motion for emergency relief, including an asset freeze, to prevent North American Clearing Inc. from misusing customer funds. The general securities and clearing brokerage company is accused of using client funds to finance its daily operations and conceal its financial state. <\/p>\n

The SEC says it also obtained an order appointing a receiver over North American Clearing, as well as a temporary restraining order. The SEC had filed securities fraud and other charges against North American, its president Bruce B. Blatman, its director and founder Richard L. Goble, and ex-financial and operations principal Timothy J. Ward on May 27, 2008 one day before the district court granted its requests. <\/p>\n

With approximately 40 correspondent brokers, North American Clearing Inc. handles over 10,000 customer accounts. The SEC says that its own actions indicative of the SEC’s dedication to protecting investors. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. District Court for the Middle District of Florida has granted the Securities and Exchange Commission’s motion for emergency relief, including an asset freeze, to prevent North American Clearing Inc. from misusing customer funds. The general securities and clearing brokerage company is accused of using client funds to finance its daily operations and conceal […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3774],"tags":[],"class_list":["post-4616","post","type-post","status-publish","format-standard","hentry","category-broker-dealers"],"yoast_head":"\nSEC Charges North American Clearing, Inc. 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