The Securities and Exchange Commission says it has obtained a final judgment against a barred broker, in which it has deemed a close to $3 million disgorgement order satisfied by a criminal restitution order.

In September 2020, the SEC charged Steven Fitzgerald Brown — the chief executive officer, president and sole owner and director of investment pool entity Alpha Trade Anlytics — with running a Ponzi-like scheme using Alpha Trade’s investment fund, as well as with misappropriating or misusing investor funds, according to a litigation release the regulator published on Tuesday.

Brown allegedly raised at least $7.5 million from 2015 to 2018 from about 75 investors by promising them guaranteed returns from investments ranging from 8% to 12% per month, according to the complaint filed last year in the U.S. District Court for the Central District of California. Brown then allegedly sent investors bogus account statements showing…

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