What do you call the act of preventing a business from continuing?

Question

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?

Answer 1

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...

Answer 2

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

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