The SEC sued an L.A. brokerage on fraud charges.
The Securities and Exchange Commission asked for a federal court order to stop Los Angeles-based Brentwood Securities and its president, Christopher Delahunty, from defrauding investors by siphoning off funds. The SEC charged that Delahunty and the firm misused more than $700,000 in customer assets by diverting the money into personal and corporate accounts. Delahunty and his attorney could not be reached for comment. SEC attorney Patricia Bell said a federal judge has appointed a trustee to liquidate the corporation.
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