Industry Wide Investigation: The Stock Loan Business

Industry Wide Investigation: The Stock Loan Business

The U.S. Attorney’s Office for the Eastern District of New York unsealed its latest indictment in an on-going investigation of fraudulent fees, sham transactions and kickbacks in the stock loan business. The case unsealed this week names as a defendant Ronald Garcia, who did business as Independent Investor Services, Inc., a stock loan finder. U.S. v. Garcia, No. 1:09 No. 1:09-cr-00675 (E.D.N.Y. Sept. 30, 2009).