Sunday, January 25, 2009

Massachusetts' Mini-Madoff

"Galvin, SEC say Quincy broker defrauded clients

Massachusetts Secretary of State William F. Galvin and the Boston office of the Securities and Exchange Commission yesterday alleged that a Quincy broker defrauded investors of more than $2 million. Galvin alleges that Gregg Thomas Rennie promised investors annual returns of as much as 13 percent, but when the economy slumped and investors asked for their money, Rennie became "evasive," and investors complained that Rennie's phones were disconnected.

Attempts to reach Rennie were not successful....

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