Florida Keys News
Friday, May 10, 2013
Ex-CEO: SEC has no jurisdiction
Feds charge former Cay Clubs officials with running 'Ponzi-like' scheme

Former Cay Clubs CEO Dave Clark is asking the court to dismiss the $300 million civil Ponzi-scheme suit that the SEC filed against him and four other defendants on Jan. 31.

In a brief filed with the U.S. District Court in Miami on Wednesday on behalf of Clark and his wife, Cristal Coleman, attorneys Kenneth Hazouri and Leon Handley argue that the U.S. Securities and Exchange...

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