• Broker chief says no truth to core SEC claim
• Asserts key February 2012 meeting made up
• New bid to dismiss compliance chief evidence
Tribune Business Editor
A Bahamian whistleblower has this week been accused of “fabricating” evidence critical to a case brought by US federal regulators against a former Nassau-based broker/dealer.
Guy Gentile, principal of Swiss America Securities, which subsequently operated under the names SureTrader and Mintbroker International, is alleging that Philip Dorsett, its ex-chief compliance officer, simply made up a February 2012 meeting that purportedly devised a scheme to evade US securities laws and regulations.
Striking back against the Securities & Exchange Commission’s (SEC) ‘star’ witness, following testimony given by Mr Dorsett on February 27-28, he argued that the Bahamian executive’s testimony had exposed numerous flaws plus instances where he had to correct himself under examination by Mr Gentile’s attorneys.
Tuesday’s legal filings represent the latest bid by Mr Gentile to dismiss Mr Dorsett’s ‘whistleblower’ evidence, which allegedly includes some 15,000 e-mails from his time at Mintbroker, and appears vital to the US capital markets regulator’s allegations that he and Mintbroker violated US securities laws by actively soliciting American clients while failing to register as required as a broker/dealer with the SEC.
Previous attempts have been rejected by the south Florida court, but Mr Dorsett...
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