Ex-SEC Atty, Others To Pay Millions Over Illegal Stock Sales

Law360, New York (April 6, 2012, 12:50 PM EDT) -- A Texas federal judge on Thursday ordered five men, including a former U.S. Securities and Exchange Commission attorney already in prison for securities fraud, to pay millions of dollars in disgorgement and civil penalties for allegedly trading unregistered penny stocks.

U.S. District Judge Sidney A. Fitzwater, who ruled against the men and their companies in a summary judgment finding for the SEC in January, ordered disgorgement payments of $6.3 million from Ryan M. Reynolds, $5.7 million from Steven P. Fischer, $288,000 from Timothy T. Page and...
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