Former Securities and Exchange Commission attorney Spencer Barasch is expected to settle Department of Justice civil charges that he inappropriately represented alleged Ponzi schemer Allen Stanford, people familiar with the matter told Reuters.
Under the terms of the planned settlement, expected to be announced later this week, Barasch will pay a $50,000 fine, the people familiar said. He will also settle a disciplinary action before the SEC under which he is expected to agree to a 6-month ban from practicing before the commission, one of the individuals said.
via Exclusive: Ex-SEC lawyer said to settle Stanford-linked case. — Reuters
