A New Jersey company that claims to make devices that reduce pollution from cars has been fined $1.1 million on securities violations.
“The Bureau of Securities chief found that (company CEO Samuel) Burlum misled investors with a series of lies about his company’s current and future prospects for success,” Acting Attorney General John J. Hoffman said. “This $1.1 million civil penalty will serve as a deterrent and a clear reminder that we are watching, and that investors must also do their homework before investing.”
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