BizRadio's Daniel Frishberg Settles Fraud Case With SEC
March 28, 2011 at 4:23 AM (PT)
The SEC and HOUSTON-based BIZRADIO founder DANIEL FRISHBERG have settled the agency's case against the host for fraud, reports the WALL STREET JOURNAL, with FRISHBERG paying a $65,000 penalty to be paid to investors and agreeing not to associate with investment advisers. FRISHBERG is not admitting or denying the allegations.
FRISHBERG had been charged with advising clients through DANIEL FRISHBERG FINANCIAL SERVICES to invest in BIZRADIO without informing them about conflicts of interest or the company's financial condition. His associate ALBERT FASE KALETA and KALETA CAPITAL MANAGEMENT were charged with fraud in 2009.