Gryphon Owner Settles With SEC Over $17.5M Fraud

Law360, New York (June 14, 2011, 1:18 PM EDT) -- The owner of Gryphon Holdings Inc. agreed Monday to summary judgment in a U.S. Securities and Exchange Commission suit in New York claiming he bilked investors of more than $17.5 million, following a guilty plea to criminal charges over the alleged scheme.

Under terms of the settlement, Kenneth Marsh, who pled guilty to securities fraud in a companion criminal case in May, will submit to an injunction enjoining him and his company from future securities law violations. The SEC also reserved the opportunity to seek disgorgement...
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