{"id":5452,"date":"2013-04-29T00:00:00","date_gmt":"2013-04-29T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/04\/sec_accuses_victorville_ca_und"},"modified":"2022-05-04T13:47:12","modified_gmt":"2022-05-04T18:47:12","slug":"sec-accuses-victorville-ca-und","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-accuses-victorville-ca-und\/","title":{"rendered":"SEC Accuses Victorville, CA, Underwriter, and Others of Municipal Bond Fraud"},"content":{"rendered":"\n

The SEC has filed securities fraud <\/a>charges against the city of Victorville, CA, one of the city\u2019s officials, the Southern California Logistics Airport Authority, and Kinsell, Newcomb & DeDios, which underwrote the bonds. The SEC claims that they bilked investors by inflating valuations of property that secured a 2008 municipal bond offering. <\/p>\n

According to the regulator, city official Keith C. Metzler and KND owner Jeffrey Kinsell and VP Janees L. Williams are to blame for misleading and false statements put out in the Airport Authority\u2019s bond offering in April 2008. The SEC is also accusing KND of misusing over $2.7 million in bond proceeds to stay in business. <\/p>\n

The Commission says that the Airport Authority took on a number of redevelopment projects and financed them by putting out tax increment bonds, and by April 2008 it had to issue even more bonds to refinance a portion of the debt incurred to keep going with these endeavors. <\/p>\n

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

The SEC has filed securities fraud charges against the city of Victorville, CA, one of the city\u2019s officials, the Southern California Logistics Airport Authority, and Kinsell, Newcomb & DeDios, which underwrote the bonds. The SEC claims that they bilked investors by inflating valuations of property that secured a 2008 municipal bond offering. According to the […]<\/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":[3922],"tags":[],"class_list":["post-5452","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds"],"yoast_head":"\nSEC Accuses Victorville, CA, Underwriter, and Others of Municipal Bond Fraud — Investor Lawyers Blog — April 29, 2013<\/title>\n<meta name=\"description\" content=\"The SEC has filed securities fraud charges against the city of Victorville, CA, one of the city\u2019s officials, the Southern California Logistics Airport — April 29, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-accuses-victorville-ca-und\/\" \/>\n<meta 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