A Swiss firm was cited for securities violations

Citing a scheme to sell “unauthorized and probably counterfeit” U.S. securities, a federal judge in New York issued an order temporarily enjoining Arno Arndt and Investment & Trust A.G. of Switzerland from further violation of U.S. securities laws. U.S. District Court Judge Shirley Kram said the SEC had produced “uncontroverted evidence” that Arndt and his firm “have committed a wide array of violations.”