Six have been named, include of three former Refco Securities brokers, in SEC charges of massive short-selling shares of CRM software-maker, Sedona Corp. Amongst those the SEC filed charges against are Andreas Badian of Rhino Advisors Inc., as well as three former Refco brokers: Jacob Spinner, Mottes Drillman and Jeffrey Graham. This isn't the first time Rhino Advisors, an unregistered investment advisor has been in the hot-seat over Sedona shares. back in 2003 Rhino and Thomas Badian, brother to the aforementioned Andreas, agreed to pay $1 million to regulators to settle similar short selling charges (links go to SEC litigation release and complaint, respectively).

All the details here.

-- MDT

Labels: Refco