SEC Bags $10M Disgorgement In Merchant Capital Case

Law360, New York (April 27, 2011, 6:25 PM EDT) -- A federal judge in Georgia on Monday ordered investment firm Merchant Capital LLC and two principals to pay $10 million in disgorgement in the U.S. Securities and Exchange Commission's long-running suit accusing them of securities fraud.

Adding prejudgment interest to the fees and salaries the defendants scooped up through June 2003, U.S. District Judge Orinda D. Evans ordered Merchant Capital to pay $8.2 million, principal Steven Wyer to pay $1.2 million and principal Kurt Beasley to pay $422,000.

Judge Evans ordered the payments after the Eleventh...
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