FTC Capital To Pay $23M To End SEC Fraud Suit

Law360, New York (August 26, 2010, 12:03 PM EDT) -- FTC Capital Markets Inc. has agreed to shell out more than $23 million to end a fraud suit brought by the U.S. Securities and Exchange Commission over the alleged unauthorized trading of millions of dollars in securities through two customer accounts.

Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York signed off Thursday on final judgments, ending the suit against the company and two of its executives.

The defendants waived any right to appeal, though they neither admitted to...
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