Hedge Fund Boss Loses Bid To Review $3.8M Penalty

Law360, New York (March 8, 2011, 2:19 PM EST) -- A money manager lost his bid for reconsideration of a $3.8 million disgorgement order Monday in the U.S. Securities and Exchange Commission's suit over an alleged securities fraud scheme in Minnesota that spawned parallel criminal proceedings.

Judge Ann D. Montgomery denied John W. Lawton's efforts to duck the order in the U.S. District Court for the District of Minnesota, shooting down his argument that his attorneys had failed to properly represent him in the SEC's case targeting him, his investment firm Crossroad Capital Management LLC and...
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