SEC Charges Trader with Targeting Lebanese and Druze Communities in Houston-Area Investment Scheme

The SEC charged Firas Hamdan, a Texas-based day trader, with defrauding fellow members of the Houston-area Lebanese and Druze communities in his supposed high-frequency trading program, and providing them with falsified brokerage records that drastically overstated assets and hid his massive trading losses.

See: SEC Complaint, SEC Litigation Release, and SEC Press Release.See also: Hamdan's Brokerage Statements.