The U.S. Securities and Exchange Commission sued Fleet New York Metropolitan Regional Center and Richard Xia Monday in New York Eastern District Court over alleged violations of federal securities laws. The complaint accuses the defendants of defrauding investors of $229 million and misappropriating at least $9.7 million from investors for personal use. Lawyers have not yet appeared for the defendants. The case is 1:21-cv-05350, Securities and Exchange Commission v. Xia et al.
Government
September 27, 2021, 4:13 PM