The U.S. Securities and Exchange Commission sued Florida real estate agent Paulo Fernando De Bastos, Joao Pedro Fonseca other defendants Thursday in Florida Southern District Court over alleged violations of federal securities laws. The court case accuses the defendants of failing to disclose to investors that the Business Court of Paris had previously ordered the liquidation of the defendants French real estate company and prohibited them from managing companies for 5 years. Counsel have not yet appeared for the defendants. The case is 0:22-cv-61831, Securities & Exchange Commission v. Rbf Trust LLC, a Florida company et al.

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