Updates to our Terms of Use

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

Friday, March 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

Ex-Director Accused of Defrauding Investors

SAN FRANCISCO (CN) - The Securities and Exchange Commission has accused David Scott Cacchione, former managing director of Merriman Curhan Ford & Co., of participating in two schemes to defraud investors.

In the first scheme, Cacchione allegedly provided account statements of Merriman clients to his customer and friend, William J. "Boots" Del Biaggio III, who used the securities to obtain more than $45 million in personal loans.

Cacchione also netted more than $32,000 in illegal commissions by buying risky, thinly traded stocks without his customers' permission, the SEC claims in Federal Court.

The government demands disgorgement and an order forcing Cacchione to pay civil penalties.

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.

Loading...