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Harvey mayor to pay $10K to settle SEC complaint over misuse of city's muni bonds

Scott Holland May 20, 2016, 5:09pm

The mayor of Harvey has quickly agreed to pay a $10,000 fine as part of a settlement reached with the federal Securities and Exchange Commission, ending a legal action the financial watchdog agency launched over allegations the suburban city had improperly steered nearly $2 million in investors’ money away from an advertised hotel development project to the city’s general coffers.