Securities and Exchange Commission

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One of two businessmen accused in what the Securities and Exchange Commission calls a "massive eight-year fraud scheme" involving developments in Vermont says he's confident he'll be cleared of any wrongdoing.

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The Securities and Exchange Commission and the state of Vermont have filed separate civil fraud lawsuits against two men who have been working to develop the economically depressed Northeast Kingdom.

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Much of the opposition to a proposed utility merger in the Hudson Valley has focused on community concerns, such as jobs, rate hikes, and investing locally. Now, at least one community member has taken his concerns to the Securities and Exchange Commission.

Canadian energy company Fortis would acquire Poughkeepsie-based CH Energy Group, parent of Central Hudson Gas and Electric Corporation, for about $1.5 billion. New Paltz resident Karl Budmen says shareholders will lose.