Giuliani Associates Lev Parnas and David Correia Sued by SEC
- Lawsuit covers some of the same ground as criminal case
- Correia pleaded guilty in October and has sentencing next week
Lev Parnas and David Correia
Source: Bloomberg
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The U.S. Securities and Exchange Commission sued two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald Trump, alleging they defrauded investors of $2 million in a company that never got off the ground.
Lev Parnas and David Correia raised the money for their company, Fraud Guarantee, but used it to pay for “lavish personal expenses unrelated to the company,” the SEC claimed in a complaint filed Thursday in Manhattan federal court. They told investors they had invested hundreds of thousands of dollars of their own money and raised $5 million for the company, but “these representations were false,” the SEC said in the complaint.