SEC v. Ambassador Advisors et al.
The Securities and Exchange Commission (SEC) retained Marti P. Murray in an investment adviser matter. The SEC accused investment advisory firm Ambassador Advisors and its principals of breaching fiduciary duties in connection with mutual fund share class selection practices and of failing to adopt and implement written policies and procedures reasonably designed to prevent violations of the Investment Advisers Act of 1940. Ms. Murray testified before the US District Court for the Eastern District of Pennsylvania as an expert in investment industry practices and customs. The jury ruled in favor of the SEC and found the defendants guilty of investment advisory fraud.