2 charged in securities fraud plot netting $26M illegally
NEWARK, N.J. — Two men were charged Monday with running a securities fraud scheme that investigators say netted them more than $26 million in illegal profits.
Joseph Taub, 37, of Clifton, and 21-year-old Elazar Shmalo, 21, of Passaic, were arrested Monday, federal prosecutors announced. The Securities and Exchange Commission also filed civil charges against the men.
Attorneys listed for the men did not immediately return calls seeking comment on their behalf.