Firms, Supervisor Settle With SEC In WBIX-Bleidt Case
September 11, 2007 at 5:45 AM (PT)
The BOSTON HERALD reports that the SEC announced last week that a pair of MASSACHUSETTS brokerage houses is paying $250,000 each and another man is paying $50,000 in fines to settle charges they failed to properly supervise former WBIX-A/BOSTON owner BRAD BLEIDT, currently serving an 11-year prison term for federal mail fraud and money laundering charges.
DETWILER, MITCHELL, FENTON, AND GRAVES, INC. and COMMONWEALTH EQUITY SERVICES will each pay $250,000 and BLEIDT's immediate supervisor JAMES X. MCCARTY will pay $50,000 under the terms of the settlement. The penalties will go into a fund for BLEIDT's victims.