The U.S. Securities and Exchange Commission filed a securities fraud lawsuit against Jared D. Eakes and James Blake Daughtry on Wednesday in Florida Middle District Court. The suit accuses the defendants of misappropriating $2.6 million from clients of GraySail Advisers by selling fake promissory notes purportedly issued by Small World Capital. Lawyers have not yet appeared for the defendants. The case is 3:22-cv-01055, Securities and Exchange Commission v. Eakes et al.

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