SEC files charges against Illinois man in scheme


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Posted Online: Feb. 08, 2013, 1:52 pm
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CHICAGO (AP) Federal authorities have announced charges against an Illinois man accused of scamming hundreds of Chinese investors out of millions of dollars.

The Securities and Exchange Commission says it has frozen the assets of 29-year-old Anshoo Sethi. They say Sethi fraudulently sold more $145 million in securities and $11 million in fees. The more than 250 investors were primarily from China.

Officials say investors thought they were buying interests in a hotel and conference center near Chicago's O'Hare International Airport. They also thought the investments enhanced their chances of getting U.S. citizenship.

There was no answer at phone listings for Sethi in Chicago.
















 



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  Today is Monday, Oct. 20, the 293rd day of 2014. There are 72 days left in the year.

1864 -- 150 years ago: The store of Devoe and Crampton was entered and robbed of about $500 worth of gold pens and pocket cutlery last night.
1889 -- 125 years ago: Michael Malloy was named president of the Tri-City Stone Cutters Union.
1914 -- 100 years ago: Dewitte C. Poole, former Moline newspaperman serving as vice consul general for the United States government in Paris, declared in a letter to friends that the once gay Paris is a city of sadness and desolation.
1939 -- 75 years ago: Plans for the construction of an $80,000 wholesale bakery at 2011 4th Ave. were announced by Harry and Nick Coin, of Rock Island. It is to be known as the Banquet Bakery.
1964 -- 50 years ago: An application has been filed for a state permit to organize a savings and loan association in Moline, it was announced. The applicants are Ben Butterworth, A.B. Lundahl, C. Richard Evans, John Harris, George Crampton and William Getz, all of Moline, Charles Roberts, Rock Island, and Charles Johnson, of Hampton.
1989 -- 25 years ago: Indian summer is quickly disappearing as temperatures slide into the 40s and 50s this week. Last week, highs were in the 80s.


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