1 GLOBAL, 2 LAWSUITS - In two separate actions, the SEC sued Eric A. Alexander, former CEO of 1 Global Capital, and Scott A. Merkelson, the company’s former director of business development, Monday in Florida Southern District Court for allegedly defrauding investors of over $320 million via an unregistered securities offering. One lawsuit contends that Alexander manipulated the company’s management fees in order to raise investor returns artificially, and signed off on investor account statements that he knew contained misrepresentations. The other complaint alleges Merkelson helped to perpetuate the fraud by falsifying documents. Attorneys have not yet appeared for the defendant in either case. The case against Alexander is 0:22-cv-60700, Securities and Exchange Commission v. Alexander. The case against Merkelson is 0:22-cv-60702, Securities and Exchange Commission v. Merkelson. Read the complaints here and here and stay up on the latest deals and litigation with the new Law.com Radar.
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