‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInFormer F-Squared CEO must pay $12.4 mln in SEC case: U.S. judge
The former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, must pay more than $12.4 million for making false statements to investors, a federal judge ruled on Tuesday. via Former F-Squared CEO must pay $12.4 mln in SEC case: U.S. judge.
Ex-billionaire Wyly targeted by SEC over Colorado ranch sale | Dallas Morning News
Bankrupt former billionaire Sam Wyly was accused by regulators of hiding the ownership of a luxury Colorado ranch in a possible bid to avoid paying creditors as much as $50 million in future sale proceeds. via Ex-billionaire Wyly targeted by SEC over Colorado ranch sale | Dallas Morning News
SEC loses bid to boost judgment against Wylys — Bloomberg
The Securities and Exchange Commission lost a bid to make Sam Wyly and his late brother’s estate pay more than the $188 million plus interest ordered by a judge in September for their use of offshore trusts to hide stock holdings and engage in illegal trading. via SEC loses bid to boost judgment against Wylys […]
Federal Court Orders Wylys to Pay ‘Staggering’ Judgment in SEC Fraud Case | Compliance Week
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 […]
Shareholders Obtain $882 Million Default Judgment in Longtop Financial Securities Suit — The D & O Diary
On November 14, 2013, Southern District of New York Judge Shira Scheindlin entered a default judgment order including a damages award of $882.3 million against Longtop Financial Technologies Ltd. and its former CEO, Wai Chau Lin. A copy of the order can be found here. However, as impressive as the size of this award is, the […]
SEC Wraps Up Its ‘Golden Goose’ Insider Trading Case – Compliance Week
Yesterday, four and a half years after the SEC filed its complaint in what is now known even by the agency as the “Golden Goose” case, the SEC announced that final settlements were reached with the last remaining defendants in the matter. On May 14, 2013, a federal court entered final judgments against defendants Jamil […]
SEC Awarded $34.5 Million Judgment Against Fugitive Believed to be ‘Living in High Style’ in Mumbai
Subject of $34.5 million judgment is a wanted fugitive.