The raid signals a wide-ranging probe by federal agents into the operations of the brokerage and Kott, a consultant to Oxford who has had run-ins with securities regulators in the past, sources said. The Securities and Exchange Commission is working with the FBI in the investigation, which includes some ventures related to Kott, sources said. The FBI served search warrants on the brokerage and seized documents, but no arrests were made, FBI spokesman John Hoos said. Employees were allowed to continue working in the Wilshire Boulevard office, he said.

Authorities also raided an Oxford office in Basel, Switzerland. The brokerage released a statement saying it is "cooperating fully with federal authorities" and that it "continues to conduct its normal business activities. Villanueva, a branch manager with Oxford in Beverly Hills.

Documents in the case have been sealed and authorities aren't talking, but the investigation is said to center on Kott. But the firm's brokers can steer clients to specific stocks, especially those in which the firm is a market-maker. Market-makers stand by, willing to buy and sell shares to the public. The stock prices of some of those companies dropped Tuesday, as did shares of JB Oxford Holdings Inc. Oxford has raised eyebrows in other areas.

Broker Dealer Firms

Its clearing unit at one time processed trades for Stratton Oakmont Inc. Oxford also recently agreed to take on the bulk of the 15, accounts held by Glendale brokerage W.

The move caused some concern among clients of W. Oxford, formerly called RKS Financial Group, was the parent company of Reynolds Kendrick Stratton, a firm subject to several lawsuits from investors and an NASD probe that resulted in fines and settlements.

In early , Kott helped arrange for a group of investors to acquire a controlling interest in the firm and Kott was hired on as a consultant. RKS eventually closed Reynolds and in created JB Oxford, which advertised aggressively and opened offices in New York, Boston, Dallas and Miami.

Seide, who is overseeing the case, would not comment, nor would Elaine Cacheris, regional director of the SEC in Los Angeles. FBI Agents Raid Beverly Hills Brokerage Firm. Sources call action the beginning of a wide-ranging probe by federal agents into Oxford and consultant Irving Kott. August 20, DEBORA VRANA TIMES STAFF WRITER.

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Authorities were characteristically tight-lipped about the Oxford investigation Tuesday. Seizure Led to FloJo's Death. His scores make his case. Brutal Murder by Teen-Age Girls Adds to Britons' Shock. Comaneci Confirms Suicide Attempt, Magazine Says. Copyright Los Angeles Times.