Meyer Blinder, a Denver broker-dealer convicted of penny-stock fraud in 1992, was barred Thursday by federal regulators from any participation in the securities industry.
The Securities and Exchange Commission imposed an infrequently used industrywide bar against Blinder, 76, who is living in Englewood, Colo., after serving 40 months in prison for securities fraud.
The SEC said its action is based on Blinder’s 1992 conviction.
“If he had a chance to prove that he did not get a fair trial in his criminal case, these sanctions never would have been imposed,” said John F. Winston, Blinder’s attorney in Englewood.
Winston said Blinder believes his firm’s competitors used unlawful influence over the SEC to put him out of business.
The SEC action, technically called a collateral bar, is the most comprehensive restriction on activities the commission can impose, said Stephen J. Crimmins, the commission’s deputy chief litigation counsel. The commission has issued collateral bars in hundreds of settled cases, but only rarely in litigated cases, Crimmins said.
