From the Los Angeles Times:

The Securities and Exchange Commission is the latest agency to investigate Bell, launching a probe into the sale of three city bonds totaling $70 million.

The investigation comes after California state auditors raised questions about how the bond money was being used, including one involving a sports park that has yet to be built.

The SEC has asked for documents involving nine current and former Bell leaders, according to the subpoena, a copy of which was obtained by The Times. The subpoena also requires them to testify before the SEC.

Read the full article here.