2008 marked the end of the only case ever brought in Southern Ohio under the Securities Investor Protection Act, one in which Frost Brown Todd was selected by SIPC to take responsibility for the liquidation of a licensed securities broker-dealer after the Securities Exchange Commission discovered massive thefts by its owner. A team of FBT attorneys led by Douglas Lutz, acting as Trustee, and Gerald Baldwin, acting as lead counsel, were given the task of seizing the company assets, closing its offices, receiving and processing over 25,000 customer claims with a pay-out of over $3,000,000, conducting civil litigation against those responsible for the fraud and, finally, assisting the U.S. Attorney’s Office in criminal prosecution of the owner.
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Securities Investor Protection Corporation