In the PIP world Bernie Butts is a big deal, a very successful attorney who has made a long career from beating up insurance companies in PIP litigation.
But the SEC says he was busy in other ways too:
The Securities and Exchange Commission says it has obtained an emergency court order to halt a scheme by a Miami attorney and some collaborators who promised exorbitant returns from a program based on the trading of bank instruments.You can read the whole complaint here.
In a complaint unsealed Sept 6 in U.S. District Court the SEC alleges that Bernard H. Butts, Jr.; Fotios Geievelis Jr. (also known as Frank Anastasio); Worldwide Funding III Limited LLC; Douglas J. Anisky; Sidney Banner, Express Commercial Capital LLC; and James Baggs raised over $3.5 million from approximately 45 investors in both the United States and abroad.
The Florida Bar is also investigating Mr. Butts.
Grow up, people!