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A leader of a company accused of selling securities in a fake Web-based business with a trendy name has been ordered to pay a penalty of nearly $1.7 million. The Securities and Exchange Commission charged that Kenneth Grossfeld was one of five leaders in a fraud offering partnerships in a Miami Internet company called Web Hosting Headquarters Inc., which is unrelated to SBC Communications' webhosting.com Web site.
October 30, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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