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Shake And Shake was a Ponzi scheme and the SEC closed the business.

The SEC closes Shake and Shake after repeated fraud allegations

Is "close" the only word, or is there a better way to say this?

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  • Prefer closed down or shut down. Commented Apr 1, 2021 at 23:55

2 Answers 2

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Well, the SEC issues closure orders and cease and deist orders.

So, your sentence could be something like:

The SEC has ordered the closure of Shake and Shake after repeated fraud allegations.

or

The SEC has issued a cease and desist order to Shake and Shake...

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https://en.m.wikipedia.org/wiki/Cease_and_desist

Also consider, the issuance of a "cease and desist" document.

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