Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Saturday, July 13, 2024 | Back issues
Courthouse News Service Courthouse News Service

Broker Allegedly Took $6 Million From Investors

NASHVILLE (CN) - Securities broker Michael Jinyong Park defrauded investors of more than $6 million, the SEC says in Federal Court. It also sued his company, Park Capital Management Group.

The SEC says Park was still running the scam as recently as June. It says he took the money from at least 20 suckers and used it "to subsidize his lifestyle and to finance a mortgage business that he owned and controlled."

Park, 41, of Brentwood, Tenn., was a registered rep with a registered broker-dealer until June 26, when it "terminated its relationship with Park after it audited Park's offices," the SEC says.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.