SEC Tells Brit To Give Back $1.3 Million| He Made In Illegal Short Sales

MANHATTAN (CN) - Timothy Bliss, as head of Armstrong Capital Ltd. and Bay Capital Investment, made $1.3 million illegally in 57 public offerings "by using shares purchased in those public offerings to cover short sales made during the five business days before the pricing of those offerings," the SEC claims in Federal Court. It wants the money back, and then some, from Bliss, of the United Kingdom.

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