SEC Nails Recidivist Securities Crook

MANHATTAN (CN) - Recidivist securities crook Vincent Setteducate aka Vincent Sette defrauded more than 100 investors of $2.3 million though his company, Great American Techologies, the SEC and the USA claim in two federal lawsuits. Sette, 48, of New Jersey sold securities in a bogus Internet service, "MailCall," and lied about its finances and capabilities, in violation of a permanent injunction issued in 1998, after he was convicted of wire fraud in a prime bank scheme, prosecutors say.

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