Former Investment Advisor Ordered To Pay $30M

Law360, New York (July 24, 2006, 12:00 AM EDT) -- A California man accused of orchestrating a massive affinity fraud scheme has been ordered to pay $30 million in a final judgment by default handed down by a federal judge in Los Angeles.

U.S. District Judge Gary A. Feess found Yi individually liable for disgorgement in the amount of $13,384,065.10, and found Yi and C+ Capital Management, LLC—the company Yi owned and managed—jointly liable for disgorgement of $15,710,490.70. In addition to the roughly $29 million he must give back, Yi must also pay about $1 million...
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