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The Boston Globe

Business

BioChemics of Danvers faces fraud charges

Federal securities regulators on Friday filed civil fraud charges against BioChemics Inc. of Danvers and its chief executive, alleging that he lied to investors in a scheme to raise $9 million.

The Securities and Exchange Commission said BioChemics and its chief, John J. Masiz of Topsfield, and two other men ran a fraudulent scheme that raised at least $9 million from 70 investors in 19 states, according to a complaint filed in federal court in Boston.

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