WASHINGTON -- The Securities and Exchange Commission yesterday announced that it filed fraud charges this month against a mid-western broker for allegedly making a half million dollars in bogus bond sales, including state of Illinois general obligation bonds.

The SEC said that from May 1991 through November 1991, James Gordon Rogers obtained at least $553,000 from at least 11 investors to buy bonds. Instead of investing in bonds, Mr. Rogers invested the funds in "an extremely risky real estate development project," according to a complaint issued by the commission.

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