SEC's $180M Disgorgement Bid For Ex-Sunwest CEO Fails

Law360, New York (October 10, 2012, 6:25 PM EDT) -- A federal judge on Tuesday denied a bid by securities regulators to force fallen retirement housing magnate John Harder, who also faces criminal charges, to cough up $180 million, citing "miraculous" efforts to recover money for defrauded Sunwest Management Inc. investors in the civil case.

U.S. District Judge Michael R. Hogan denied the U.S. Securities and Exchange Commission's motion for $180 million in disgorgement from Harder, who pled not guilty to related criminal charges on Sept. 21. The judge said Harder was instrumental in selling Sunwest assets...
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