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McGinn Smith Alarm Trading accounts sold for $2m

April 25, 2012Tess Nacelewicz

ALBANY, N.Y.—More than 5,000 alarm accounts managed by McGinn Smith Alarm Trading LLC have been auctioned to Security Systems Inc. of Cromwell, Conn. for more than $2 million, legal documents show.The accounts were auctioned off early this month by the receiver that a court appointed to oversee the assets of Security industry investors Timothy McGinn and David L. Smith—who are battling a civil lawsuit filed by the Securities and Exchange Commission in 2010 that contends they bilked investors...

David L. Smith, David Roman, McGinn Smith Alarm Trading LLC, Safe Home Security, Security Systems Inc., Security Systems News (SSN), Timothy McGinn