Consent Decree Approved In $45M Loan Scam Case

Law360, New York (April 1, 2009, 12:00 AM EDT) -- A federal judge has approved a consent judgment in the U.S. Securities and Exchange Commission’s case against a former managing director at brokerage firm Merriman Curhan Ford & Co. who the SEC alleged helped bilk banks and private lenders out of about $45 million in 2007 and 2008.

Judge Charles R. Breyer of the U.S. District Court for the Northern District of California on Tuesday signed off on final judgment in the SEC’s case against David Scott Cacchione.

The SEC filed the case against Cacchione on...
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