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.

This lawsuit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.

Read the complaint: