The Securities and Exchange Commission charged New York-based brokerage Crucible Capital Group Inc. and its chief executive officer for violating net capital requirements and falsifying documents to conceal the firm’s capital insufficiencies, the agency announced Friday.
The firm’s CEO Charles Moore, 62, allegedly attempted to obscure Crucible’s financial situation from the SEC by giving examiners false documents meant to cover up the firm’s liabilities. Moore reported that Crucible’s net capital was above the $5,000 required by regulators, but in reality, the company was in debt, the SEC said.
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