Bond Flippers

The SEC accused RMR Asset Management Co., its president Ralph M. Riccardi of Chula Vista and 12 RMR employees of making millions of dollars through illegal bond flipping: buying new-issue municipal bonds and then flipping them to their own broker-dealers for a commission and resale, in San Diego Federal Court.

SAN DIEGO — The SEC accused RMR Asset Management Co., its president Ralph M. Riccardi of Chula Vista and 12 RMR employees of making millions of dollars through illegal bond flipping: buying new-issue municipal bonds and then flipping them to their own broker-dealers for a commission and resale, in San Diego Federal Court.

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Bond Flippers

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