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New investment venture for two charged with fraud

October 28, 2010Tess Nacelewicz

ALBANY, N.Y.—Security alarm investors Timothy McGinn and David Smith—whom the SEC charged earlier this year with bilking investors of at least $80 million in a Ponzi scheme—are reportedly involved in a new investment venture. Their new business, Security Alarm Credit, has come under the SEC's radar. “We are aware of it and have alerted the court to it,” Andrew Calamari, associate director of the SEC's New York Regional Office, said Oct. 27. “But at the...

Anchor Alarm, Andrew Calamari, David Smith, fraud, Holloway Security Consulting, Jennifer Holloway, Mike Latty, Ponzi scheme, Security Alarm Credit, Timothy McGinn, U.S. Securities and Exchange Commission (SEC)