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SEC Charges Husband and Wife with $3.5 Million Securities Fraud

According to the U.S. Securities and Exchange Commission (“SEC”), Kathleen S. Dobens and her husband Charles T. Dobens ran an investment fraud from their home in Duxbury, Massachusetts.  The SEC claims that the Dobens, operating through four entities, Silex Group, LLC, Preakness Apartments I & II, LLC, Cherry Hills Apartments of Fort Worth, LLC, and [...]

According to the U.S. Securities and Exchange Commission (“SEC”), Kathleen S. Dobens and her husband Charles T. Dobens ran an investment fraud from their home in Duxbury, Massachusetts.  The SEC claims that the Dobens, operating through four entities, Silex Group, LLC, Preakness Apartments I & II, LLC, Cherry Hills Apartments of Fort Worth, LLC, and Clear River Partners, LLC, raising approximately $3.5 million from 60 investors by guaranteeing investors returns of between nine and 12 percent annually.  According to the SEC, the defendants told investors that the profits would come from the development of multi-family housing.  The SEC’s press release on this case reads, in part, as follows:   (more…)