Securities Fraud

LOS ANGELES — The SEC accuses five Californians of reaping more than $10 million in “commissions” in a matched-trading scheme involving thinly traded stocks, though they were not registered as brokers or dealers nor associated with one. Named as defendants to the federal complaint are Gregory Lamont Drake, Stephen Kenneth Grossman, Stephen Scott Moleski, Jason David St. Amour and David Alan Wolfson.

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