Diamondback Manager Coughs Up $1.3M In SEC Fraud Suit

Law360, New York (September 1, 2011, 12:21 PM EDT) -- Anthony Scolaro, the Diamondback Capital Management LLC portfolio manager who admitted to insider trading in the wide-ranging Galleon Group LLC criminal investigation, agreed Wednesday in New York to pay $1.3 million to settle securities regulators' related civil fraud claims.

Scolaro agreed to pay disgorgement of $125,980, prejudgment interest of $14,420 and a civil penalty of $62,945, and Diamondback, as a relief defendant, agreed to disgorge $962,486 in gains resulting from Scolaro's trades, plus pay prejudgment interest of $110,246, the SEC said.

Scolaro, who prosecutors say traded...
To view the full article, register now.