Plasticon Exec To Pay $3.2M To Bury SEC Fraud Case

Law360, New York (February 7, 2011, 1:45 PM EST) -- The U.S. Securities and Exchange Commission has reached a deal with the president of a rebar manufacturing company it accused of bilking investors out of about $3 million to settle his personal bankruptcy and other matters.

Plasticon International Inc. President James N. Turek must pay the SEC about $3.2 million and will be banned from trading or offering penny stocks, according to the terms of a consent judgment filed Friday in the U.S. District Court for the Eastern District of Kentucky.

The SEC charged Turek in...
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