Action against Respondents, an investment adviser and its chief operating officer, for alleged fraud in connection with the auction of real estate from one client to another. According to the SEC, Respondents allegedly rigged an auction of one client’s real estate to benefit another client who purchased the real estate and resold it at a profit. Respondent investment adviser has agreed to pay disgorgement of $74,000, prejudgment interest of $8,758.80, and a civil penalty of $325,000. Respondent chief operating officer has agreed to a twelve-month industry bar and to pay a civil penalty of $65,000.

SEC Order (Talimco)

SEC Order (Rogers)

SEC Press Release