Local businessman charged with fraud
November 12, 2009
Benny Judah
Lubbock businessman Benny Judah has been charged with fraud by the federal government.
Details are in this morning’s Avalanche Journal.
Judah operates several local businesses including land development, real estate sales, equipment leasing and he operates several local restaurants.
He is accused of swindling investors out of more than $50,000. Judah has been charged with two felonies – money laundering and sale of unregistered securities.
Tuesday’s criminal charge comes several months after the U.S. Securities and Exchange Commission filed a fraud complaint against Judah. That charge was levied against him in April, prompting a federal judge to freeze his assets and place his business operations in receivership.
That complaint accused Judah of selling $40 million in unregistered securities and misusing the proceeds.
More Online:
Lubbock Online: http://lubbockonline.com/stories/111209/loc_515388949.shtml
NewsRadio 1420: http://newsradio1420.com/newsradio/newsMaker.asp?storyID=25211
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