BOSTON (CN) - Marvel Partners is defrauding people over the Internet, falsely claiming affiliation with a legitimate company, J.P. Marvel Investment Advisors, and "falsely promising exorbitant returns of as much as 138% after only three days," the SEC says in Federal Court.
The defendants operate through Web sites, including Marvelpartners.net, the SEC says. Marvel Partners has "no connection whatsoever to J.P. Marvel" and the securities it's selling are unregistered, the SEC says.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.