The Rise and Fall of Eugene Mulvill

Eugene Mulvill founded his own Wall Street firm called Mayflower Securities. He then went to co-found and developed a few medical research companies, which specialized in developing cancer vaccines. In 1973, Mayflower Securities was suspended by the Securities and Trades Commission on the grounds of selling its customers' worthless securities in a bankrupt electronics company. It's basically when a salesman would sell a worthless share to an unknown client for a lot of money.