4 settle SEC claims against defunct Pa. firm
PITTSBURGH - Three former officers and an attorney who worked for a defunct Pittsburgh-area medical staffing company have agreed to settle stock fraud claims filed by the Securities and Exchange Commission.
PITTSBURGH - Three former officers and an attorney who worked for a defunct Pittsburgh-area medical staffing company have agreed to settle stock fraud claims filed by the Securities and Exchange Commission.
The settlements with the executives of World Health Alternatives Inc. must still be approved by a federal judge.
The judge must also appoint a receiver, who will sell a vacation home, jewelry and other property owned by the company's former CEO to satisfy more than $5 million he's agreed to repay in the scheme.
In a parallel criminal investigation, federal prosecutors have said the fraud cost investors more than $200 million when the company's stock bottomed out when the investigation became public in 2005.