Reynolds Ordered To Pay $4.1M In Fraud Case

Law360, New York (October 8, 2010, 6:00 PM EDT) -- A federal judge has ordered investment manager Archie Paul Reynolds, accused of bilking victims out of millions through sham investment programs, and his company Success Trust and Holding LLC to pay more than $4.1 million in civil penalties and disgorgement.

Judge Richard W. Story of the U.S. District Court for the Northern District of Georgia ruled Thursday that the U.S. Securities and Exchange Commission had shown Reynolds intentionally defrauded hundreds of investors with false promises of sky-high returns and assurances of little risk.

“Reynolds acted with...
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