SEC Charges Indiana School District and Muni Bond Underwriter with Defrauding Investors (with Lofchie Comment)

The SEC has charged West Clark Community Schools and its municipal bond underwriter with providing bond investors with false information regarding annual financial information and notices. The SEC also charged Randy G. Ruhl, who heads the public finance and muni bond department at City Securities, for the school district's misconduct.

Lofchie Comment: There has been a very significant pick-up of enforcement actions against governmental issuers.

See: SEC Press Release; SEC Order Against West Clark Community Schools.