Ex-Refco CEO Reaches Truce With SEC

Law360, New York (July 30, 2008, 12:00 AM EDT) -- Weeks after being sentenced to more than a dozen years in jail, former Refco Inc. CEO Phillip R. Bennett has reached a settlement with the U.S. Securities and Exchange Commission over his role in the massive fraud that brought the commodities brokerage giant to its knees.

On Tuesday, U.S. District Judge Gerard Lynch signed off on the deal, putting to rest the civil fraud charges the agency brought against the former high-flying executive.

The judgment bans Bennett from serving as an officer or director of a...
To view the full article, register now.