Muni Bond Underwriter Settles SEC Fraud Charges

Lawson Financial Corporation, its CEO and its former underwriter counsel ("respondents") agreed to settle SEC charges alleging that the brokerage firm and certain of its officers violated antifraud provisions. The SEC alleged that the respondents underwrote "a series of fraudulent conduit bond offerings" for healthcare-related projects throughout the Southeastern and Midwestern United States without conducting adequate due diligence.