Ex-Keystone Chair Settles SEC Merger Tips Suit

Law360, New York (October 5, 2011, 4:16 PM EDT) -- The former chairman of Keystone Equities Group — who was sentenced to three months in prison in May — on Monday became the last defendant to settle a U.S. Securities and Exchange Commission suit alleging he traded on illegal tips from a former Ernst & Young LLP partner about technology company acquisitions.

Richard A. Hansen agreed to pay $63,039 in civil disgorgement to the SEC, without admitting or denying guilt in the suit, according to a consent judgment filed in Pennsylvania federal court

Under the agreement,...
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