SECURITIES

Some FSG Financial Charges Settled: Two operators of defunct FSG Financial Services Inc. in Beverly Hills settled Securities and Exchange Commission civil charges that they sold $29 million in worthless municipal bonds through FSG and related companies to nearly 500 California investors. Without admitting or denying liability, John A. Genetti and Westley Scher agreed not to violate securities laws in the future. They were also ordered to disgorge $25 million allegedly made from the scam, but payment was waived because both are nearly broke. Similar charges against their associate, Louis F. Vargas, are pending. All three are serving prison sentences stemming from earlier criminal prosecutions in the case.