SEC obtains restraining order against Select Asset Management

fraud

The US Securities and Exchange Commission (SEC) has obtained a temporary restraining order and asset freeze against Houston-based investment adviser Select Asset Management, its principal Brian Bjork, the estate of the recently deceased David Salinas and two Salinas firms.

The SEC alleges that since 2004 Bjork has been offering securities in two fraudulent schemes generating a total of $52 million. The first scheme operated by Bjork and Salinas offered investors corporate and other bonds, raisin