Michael Metter, the President/CEO of the Business Talk Radio Network and part-owner of Greenwich, Connecticut’s WGCH-AM (1490), is the focus of an SEC probe into his SpongeTech Delivery Systems. The SpongeTech product was advertised in places such as Yankee Stadium and Madison Square Garden. The Connecticut Post newspaper reports the SEC will “bring civil injunctive actions alleging violations of federal securities laws.” In October 2009, it suspended trading in the company for 10 days, and it continued to investigate afterwards. SpongeTech is currently embroiled in lawsuits,from investors and also New York’s Madison Square Garden, alleging nonpayment of an advertising bill. Metter tells the Post the situation with the SEC could still be settled or dismissed.