A Twin Cities Attorney Faces Securities Law Violation

by Isaac Benmergui, Esq on December 4, 2013

Once again, another indication that no one, not even a lawyer, is above real estate law, by any means. This case is about a particular lawyer by the name of Todd Duckson, found liable for several violations under securities law by operating a Minneapolis investment fund, which swindled countless investors nationwide.

Specifically, 450 investors bought the big one here, a fund raised to approximately $21.6MM according to the United States Securities and Exchange Commission. That’s not a small number, by any stretch, and fraudwhen he’s found for aiding and abetting as well as two counts for securities fraud, the consequences will be, for lack of a better term, costly.

He currently faces civil penalties and an order to return all gains, effective immediately, to all investors serving on the investment fund. To make it worse, Duckson was barred from ever practicing law again in that respect, and federal authorities are seeking restitution as well by also prohibiting him from acting as attorney for public companies with respect to filings.

Chances are the investors may not receive back entire amounts, but at the very least, we can expect this statement to be clear and definitive: justice was served. And the wrongdoer will face consequences anyway. Sometimes that’s really all the law can do!

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