Court Sentences Former Head of Investment Advisory Firm for Conspiring to Commit Wire Fraud and Making a False Statement to SEC Staff

The Honorable Roslynn R. Mauskopf of the United States District Court for the Eastern District of New York sentenced Fredrick D. Scott to 63 months' imprisonment for conspiracy to commit wire fraud and making a false statement to SEC staff.

In September 2013, the SEC filed a civil injunctive action against Scott, alleging that he used his status as a registered investment adviser to bolster his credibility in fraudulently offering too-good-to-be-true investment opportunities. The SEC's complaint further alleged that Scott filed a false Form ADV and aided and abetted his firm's improper registration under the Advisers Act. The SEC's case remains pending.

See: Litigation Release.