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$11M Fraud Alleged in Medical Gloves

ORLANDO (CN) - Victor Ragucci defrauded hundreds of investors of $11 million by selling unregistered securities in his Barriermed Glove Co., a supposed latex-free medical glove, the SEC claims in Federal Court. Ragucci, 62, of Lake Mary, "fraudulently depicted" his company, knowing it "had serious financial and operational problems and could not come close to achieving the projections and results the defendants dangled in front of investors," the SEC says.

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