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SEC Sues Recidivist Securities Crooks

MANHATTAN (CN) - Alex Rabinovich, 25, and Joseph Lovaglio, 29, both of Brooklyn, defrauded investors of at least $550,000 in a "storefront boiler room in Brooklyn," by selling unregistered securities in co-defendant Rabinovich & Associates LP, through misrepresentations, the SEC claims in Federal Court. Both individuals are recidivist securities violators, the SEC claims.

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