SEC Levies Fraud Charges Against Texas-Based Municipal Advisor, Owner for Lying to School District
May 9, 2018
The Securities and Exchange Commission today announced it charged a registered municipal advisor and its owner with defrauding a south Texas school district in connection with multiple municipal bond offerings.
The SEC’s order instituting proceedings found that in connection with three municipal bond offerings between January 2013 and December 2014, Mario Hinojosa and his wholly-owned municipal advisor, Barcelona Strategies LLC, misrepresented their municipal advisory experience and failed to disclose conflicts of interests to their client, a local school district in South Texas.
Read the press release.