Sunday 26, July 2009 by
US regulator acts against Kuwaiti investor
The Securities and Exchange Commission (SEC) filed an enforcement action on 23 July in the US District Court for the Southern District of New York, charging Hazem Khalid Al-Braikan, a resident of Kuwait for engaging in an illicit scheme through which he reaped millions of dollars in profits from trading around hoax offers to acquire US companies. The SEC obtained an emergency court order to freeze more than $5 million in trading profits in various accounts.
