SEC sues Bucks County adviser

Posted: July 31, 2012

The Securities and Exchange Commission filed a civil lawsuit against a Bucks County financial adviser who allegedly persuaded 70 clients to invest $30 million in an Illinois-based Ponzi scheme that defrauded at least 400 investors out of $105 million.

In the federal lawsuit filed in Philadelphia, the SEC is seeking a permanent injunction against Emanuel L. Sarris Sr., 71, of New Hope, disgorgement of $1.8 million in salaries and fees, and civil penalties.

The phone for Sarris Financial is not in operation. A call to a Sarris residence was not returned.

– Harold Brubaker

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