Man Cheated Stepdad’s Clients, SEC Says

MANHATTAN (CN) - While working for his stepfather, a registered stock broker, a man bought thinly traded stocks for clients without authorization, making the price rise, and dumped his own shares at elevated prices, the SEC says in Federal Court.

Joshua M. Eudowe made $8,059 from the illegal trades, the SEC says. The commission says he hacked into his stepfather's Web site to make the trades, without Lawrence J. Goldstein's knowledge or permission.

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