Categories: SEC

Kimberly Sredich

Litigation Release No. 24456 / April 19, 2019

Securities and Exchange Commission v. Kimberly Sredich, Civil Action No. 19-cv-11140 (E.D. Michigan, filed April 18, 2019)

On April 18, 2019, the Securities and Exchange Commission charged Kimberly Sredich, a Michigan resident, with misappropriating funds from brokerage customers of a registered broker-dealer with which she was associated. The SEC’s complaint alleges that between 2014 and 2018, Sredich sold securities in at least 15 customer accounts and misappropriated the proceeds of the sales. According to the complaint, many of the customers were elderly. The complaint further alleges that Sredich forged customers’ signatures and used blank letters of authorization previously signed by customers to transfer funds to a company she controlled. She then allegedly transferred most of the misappropriated funds to a personal bank account.

The SEC’s complaint filed in the Eastern District of Michigan alleges that Sredich violated Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

In a parallel action, the U.S. Attorney’s Office for the Eastern District of Michigan filed criminal charges against Sredich, who was arrested by the Federal Bureau of Investigation. The SEC’s investigation, which is continuing, is being conducted by Sarah Hancur and Jean Javorski and supervised by C.J. Kerstetter. The SEC’s litigation will be led by John Birkenheier.

IR Press

Share
Published by
IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

1 day ago

Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…

2 days ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

2 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

2 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

4 days ago