The Securities and Exchange Commission today charged CMI Capital LLC and its founder and manager, Michael D. Williams, for an alleged fraudulent investment scheme that raised approximately $860,000 from at least 18 investors, many of whom are current or former law enforcement personnel.
According to the SEC, the South Florida resident and his company are accused of defrauding those investors through the alleged scheme.
The SEC announced the charges in a press release issued by the agency.
The regulator did not disclose further details of the allegations in its announcement.