The pair funneled millions of dollars to government officials in Macedonia and Montenegro to shut out telecom competition.
Due diligence vendors described some of the loans underlying the securities as having the “distinct aroma of default.”
The SEC says the traders made at least 23,000 coordinated trades to manipulate the prices of more than 2,000 stocks.
The SEC alleges fraudulent billing practices at SMF Energy allowed the firm to post profits when it actually lost money.
Lawsuit is the latest in a series of bizarre events surrounding the company.
