Ex-UBS Trader Ordered To Pay $15M In SEC Settlement

Law360, New York (February 3, 2010, 5:28 PM EST) -- A former UBS trader will have to pay more than $15.4 million to settle U.S. Securities and Exchange Commission claims that he scammed investors out of $31 million.

In an order signed Tuesday, Judge Sam Sparks of the U.S. District Court for the Western District of Texas signed off on an order that will see Francesco Rusciano and his Connecticut-based Ponta Negra Group LLC pay more than $15.2 million in disgorgement plus more than $190,000 in interest.

Rusciano and his company neither admitted nor denied guilt....
To view the full article, register now.