New Receiver OK'd In $550M Fraud Suit V. Financier

Law360, New York (May 21, 2009, 12:00 AM EDT) -- A federal judge has approved the U.S. Securities and Exchange Commission's second choice for a receiver in the agency's $550 million fraud case against Florida financier William L. Gunlicks and his company, Founding Partners Capital Management Co.

Judge John E. Steele of the U.S. District Court for the Middle District of Florida green-lighted attorney Daniel S. Newman of Broad and Cassel for the role days after jettisoning the SEC's first choice over a potential conflict.

Newman was on a list of three attorneys initially chosen by...
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