The Securities and Exchange Commission last week began administrative proceedings against California attorney David Tamman for allegedly altering real estate investment documents to cover the actual destination of the funds. The SEC alleged that Tamman altered private placement memoranda, or PPMs, used in the sale of securities issued by NewPoint Financial Services. According to the SEC, the original PPMs stated that the funds would go to real estate ventures, but the “vast majority” of the money allegedly went to NewPoint’s principal John Farahi in the form of loans. In January 2010, the SEC began administrative proceedings against NewPoint’s Farahi and other financiers for securities fraud that targeted the Iranian community in Los Angeles. That case is still active, according to the SEC. The SEC made its latest allegation against Tamman, a member of the California bar, from information it obtained from its examination into Farahi’s operation. Allegedly, Tamman added language to the PPMs to make it appear that it was disclosed to investors that Farhai was receiving the money, but according to the SEC, Tamman knew the language he added to the documents were not included in the PPMs given to investors. Tamman’s office did not respond to requests for comment. An SEC spokesman said he could be barred from practicing law before the SEC. The SEC will hold an administrative hearing to determine if the allegations are true and to give Tamman an opportunity to establish a defense. Write to Jon Prior. Follow him on Twitter: @JonAPrior