Statement

Statement on Jury’s Verdict in Trial of Michael C. Furman

Gurbir S. Grewal, Former Director, Division of Enforcement
Washington D.C.

After an 8-day trial, a jury in the Southern District of Florida found Michael C. Furman liable for securities fraud and illegally selling unregistered securities.

Statement of SEC Division of Enforcement Director Gurbir S. Grewal:

“We are pleased with today’s jury verdict holding sales agent Michael C. Furman liable for securities fraud and illegally selling unregistered securities in connection with Complete Business Solutions Group Inc., d/b/a Par Funding’s half-a-billion dollar securities offering fraud. Furman, through entities he controlled, fraudulently raised over $10 million from numerous individuals including elderly and retired investors. Today’s verdict underscores that the Commission will continue to pursue those who violate the federal securities laws and victimize investors.”

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More information:

The SEC filed its civil complaint on July 24, 2020: Complete Business Solutions Group Inc. dba Par Funding et al. (Release No. LR-24860; Jul. 31, 2020) (sec.gov)

Last Reviewed or Updated: Dec. 15, 2021