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Browse: Home / 2014 / September / 26 / Federal Court Orders Wylys to Pay ‘Staggering’ Judgment in SEC Fraud Case | Compliance Week

Federal Court Orders Wylys to Pay ‘Staggering’ Judgment in SEC Fraud Case | Compliance Week

By Securities Docket on September 26, 2014, 9:55 am

Yesterday, U.S. District Judge Shira Scheindlin ruled that Sam Wyly and the estate of his late brother, Charles, must pay $187.7 million in disgorgement following the SEC’s May 2014 jury verdict against them. The court described the judgment as a “staggering” sum that could reach $300-$400 million with interest.

via Federal Court Orders Wylys to Pay ‘Staggering’ Judgment in SEC Fraud Case | Compliance Week

Posted in SEC, Top | Tagged Financial Fraud, Judgments

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