Carl Dilley and Micah Eldred, principals of broker-dealer Spartan Securities Group Ltd. were sanctioned by a federal judge for failing to appear in person for a mediation on February 5. The mediation was part of an enforcement case brought by the Securities and Exchange Commission (“SEC”) in which Eldred and Dilley are accused of operating and selling at least 19 companies that they misrepresented as legitimate companies. Eldred and Dilley are accused of filing fraudulent applications in furtherance of this alleged sham.
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