McGuireWoods Fraudster Evades SEC Penalty

Law360, New York (May 5, 2011, 1:02 PM EDT) -- The U.S. Securities and Exchange Commission decided Wednesday not to seek civil penalties against Louis W. Zehil, a former McGuireWoods LLP attorney sentenced in New York to three years in prison for operating a $17 million securities fraud scheme involving public equity transactions.

The SEC asked the court to lift the stay on the civil suit now that the criminal case is concluded and approve a consent judgment that bars Zehil from violating securities laws and satisfies the civil penalties with the $17 million forfeited in...
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