Ex-NFL Player To Pay $3.6M To Settle SEC Lawsuit

Law360, New York (February 3, 2014, 2:24 PM EST) -- A Michigan federal judge on Friday approved a settlement that will require former NFL receiver Michael Farr to pay $3.6 million in penalties to put to rest allegations by the U.S. Securities and Exchange Commission that he helped a disgraced businessman and investment adviser steal from a trio of pension funds.

Under the terms of the deal, U.S. District Judge Denise Page Hood ordered Farr to pay back $2.32 million in illegal profits, plus $277,793 in prejudgment interest. He will also owe the government $1 million...
To view the full article, register now.