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Black Wealth Matters Welcomes SEC Internal Investigation Into Racist Attack on Solomon Ali; Demands Transparency and Accountability

ATLANTA, GA, Jul 1, 2020 - (ACN Newswire) - Black Wealth Matters, a group of black entrepreneurs and artists dedicated to economic inclusion for African Americans today welcomed news that the SEC is conducting a full internal investigation into the racist attacks by the agency on entrepreneur and philanthropist Solomon Ali after the agency conducted an initial review of the facts of the case and after speaking with Black Wealth Matters members. The investigation will be led by Nicholas Padilla, Deputy Inspector General for Investigations and by Tracey MacNeill, the SEC's Ombudsman.

Arletta Saafir, a spokesperson for Black Wealth Matters, had the following statement:

"We appreciate our dialogue with Nick Padilla and Tracey MacNeill at the SEC and we are hopeful that their investigation will be impartial, fair, and transparent. Any objective observer who reviews the intimidation tactics used by the SEC, their misleading statements, and their very reason for targeting Solomon in the first place will see the SEC's complaint against him for what it is: a racist persecution. We are curious to learn to what degree racial bias at the SEC is systemic thus we urge the investigation to focus on broader trends of racial bias at the agency. Moreover, we want to know if the higher-ups such as Jay Clayton and the commissioners approved this racist attack. We urge Mr. Padilla and Ms. MacNeill to publish the full details of their investigation online so that the public, Members of Congress, and the media can see exactly how and why Solomon was targeted in such an abusive manner."

A video about the SEC's targeting Solomon Ali can be viewed at

More information can be found at

Arletta Saafir
T: +1 (470) 317-3877

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