After Harrisburg, PA defaulted on its incinerator bonds, started selling off pieces of itself, and threatened bankruptcy (twice), now the SEC is suing the city for fraud.
James O’Toole wrote for CNN Money 6 May 2013,
SEC sues financially troubled Harrisburg,
Continue readingThe Securities and Exchange Commission has sued the city of Harrisburg for fraud, alleging that officials in the Pennsylvania capital misled the public about the city’s financial condition.
The SEC says the misleading statements came in the city’s 2009 budget report, its annual and mid-year financial statements and a “State of the City” address. The case marks the first time the SEC has charged a municipality with misleading investors in statements made outside of securities documents.
Harrisburg has been mired in










