Stifel http://news.stlpublicradio.org en St. Louis-based Stifel, Nicolaus & Co. charged with defrauding school districts http://news.stlpublicradio.org/post/st-louis-based-stifel-nicolaus-co-charged-defrauding-school-districts <p><iframe frameborder="0" height="350" marginheight="0" marginwidth="0" scrolling="no" src="http://maps.google.com/maps?oe=utf-8&amp;client=firefox-a&amp;ie=UTF8&amp;q=Stifel,+Nicolaus+%26+Co.&amp;fb=1&amp;gl=us&amp;hq=Stifel,+Nicolaus+%26+Co.&amp;hnear=0x87df35f54d237135:0xab917e2aef7aa4b0,Normandy,+MO&amp;hl=en&amp;view=map&amp;cid=130671714444487129&amp;ll=38.639869,-90.19063&amp;spn=0.023464,0.036478&amp;z=14&amp;iwloc=A&amp;output=embed" width="425"></iframe><br /><small><a href="http://maps.google.com/maps?oe=utf-8&amp;client=firefox-a&amp;ie=UTF8&amp;q=Stifel,+Nicolaus+%26+Co.&amp;fb=1&amp;gl=us&amp;hq=Stifel,+Nicolaus+%26+Co.&amp;hnear=0x87df35f54d237135:0xab917e2aef7aa4b0,Normandy,+MO&amp;hl=en&amp;view=map&amp;cid=130671714444487129&amp;ll=38.639869,-90.19063&amp;spn=0.023464,0.036478&amp;z=14&amp;iwloc=A&amp;source=embed" style="color: rgb(0, 0, 255); text-align: left;">View Larger Map</a></small></p><p><em>Updated 4:02 p.m.:</em></p><p>Stifel, Nicolaus &amp; Co. has released a statement regarding the complaint,<a href="http://www2.stifel.com/docs/pdf/PressReleases/2011/ResponseToSECLawsuit.pdf"> read the full text here</a>.</p><p>The federal Securities and Exchange Commission has charged a St. Louis brokerage firm and a former executive with defrauding five Wisconsin school districts by selling them risky investments funded mainly with borrowed money.</p><p>The SEC complaint against Stifel, Nicolaus &amp; Co. and former Senior Vice President David Noack was filed in federal court in Milwaukee Wednesday.</p><p> Wed, 10 Aug 2011 16:59:55 +0000 The Associated Press 1842 at http://news.stlpublicradio.org