SEC Atty Defends 'Slush Fund' Remark In Fraud Suit

Law360, New York (March 27, 2013, 3:50 PM EDT) -- A U.S. Securities and Exchange Commission attorney said Tuesday she did not mean for her statement in a press release about a lawsuit over an investment adviser's alleged "slush fund" fraud to interfere with the defendant’s right to a fair trial in a parallel criminal tax case.

In a complaint unsealed March 18, the SEC alleges that Gregg D. Caplitz and his firm, Wilmington, Mass.-based Insight Onsite Strategic Management, raised at least $1.1 million from clients while falsely claiming the money would be invested in a...
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