Ladenburg chairman charged with fraud by SEC in penny stock scheme


Dr. Phillip Frost was among 10 individuals named in a lawsuit for participating in long-running schemes that generated over $27 million from unlawful stock sales and left investors holding virtually worthless stock, the SEC claims Dr. Phillip Frost, the non-executive chairman and largest shareholder of Ladenburg Thalmann Financial Services Inc. has been charged with fraud by the Securities and Exchange Commission for his involvement in a pump-and-dump, penny stock scheme.



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