2nd Circ. Upholds $6M Penalty In Universal Express Case

Law360, Wilmington (September 16, 2011, 2:39 PM EDT) -- The Second Circuit on Friday upheld a $6 million judgment against an investment adviser implicated in an illegal stock scheme involving former race car driver Mark Neuhaus and luggage delivery company Universal Express Inc.

New York-based moneyman George Sandhu was hit with the judgment in 2009 after agreeing to settle the U.S. Securities and Exchange Commission's allegations that he helped distribute illegal shares of Universal Express penny stock. He was directed to return more than $4 million in illegal profits, fork over $1.5 million in interest...
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