The U.S. Securities and Exchange Commission has suspended corporate lawyer Fredric Aaron from practicing before the agency for five years, citing his role in companies that allegedly operated a Ponzi scheme that bilked investors out of $26 million.
The SEC complaint said that Aaron, 49, of Plainview, N.Y., participated in multiple offerings by the PermaPave Entities, a group of related companies. Aaron, who didn’t immediately return messages seeking comment, neither admitted nor denied the SEC charges.
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