As if this wasn’t anticipated for some time now: Broco’s CEO Valery Maltsev has officially announced that the company is shutting down due to police investigation. In 2010 Broco was sued by the SEC for manipulating client positions, SEC claimed that: “The Commission’s complaint alleges that BroCo Investments, Inc., its president Valery Maltsev, and/or individuals acting in concert with them hijacked the online brokerage accounts of unwitting investors using stolen usernames and passwords and subsequently placed unauthorized trades through the compromised accounts to manipulate the markets of at least thirty-eight ... (full story)