Jail-Bound Investment Manager Ordered To Pay $12M

Law360, New York (May 5, 2009, 12:00 AM EDT) -- An Oregon man sentenced to prison in February for allegedly bilking investors out of millions of dollars has been ordered to pay $11.9 million in disgorgement in addition to interest in a civil case filed by federal regulators.

Judge Michael W. Mosman of the U.S. District Court for the District of Oregon granted summary judgment Monday to the U.S. Securities and Exchange Commission in a case against Charles Wesley Rhodes Jr.

The judge ordered Rhodes to pay $11.9 million in disgorgement, prejudgment interest through the date...
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