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Securities and Exchange Commission v. Penn et al

  1. April 01, 2021

    PE Firm, Ex-Director Can't Reduce $41M In SEC Fines Via Liu

    A New York federal judge ruled Wednesday that a U.S. Supreme Court decision won't alter her orders for a private equity firm and its former director to pay the Securities and Exchange Commission a total of $41.2 million for a theft scheme, ruling the requests are "procedurally improper and substantively baseless."

  2. September 03, 2020

    PE Firm Says Liu Decision May Reduce $20.8M SEC Sanction

    A private equity firm that was ordered to pay $20.8 million in April for its alleged role in an investment fund theft scheme uncovered by the U.S. Securities and Exchange Commission has asked a New York district court to delay its ruling on an SEC request to seize part of the assets, citing a recent landmark U.S. Supreme Court decision as a potential game changer.

  3. April 30, 2020

    Camelot To Pay SEC $20.8M For Role In Exec's Fund Theft

    A New York federal judge ordered investment adviser Camelot Acquisitions Secondary Opportunities Management LLC and its parent organization to fork over a combined $20.8 million in fines and disgorgement on Thursday for their roles in their ex-manager's theft from CASO's private equity fund.

  4. September 17, 2018

    Ex-Camelot Exec Must Pay $18.6M For Stealing From Fund

    A New York federal judge has fined the former manager of private equity fund Camelot Acquisitions Secondary Opportunities almost $9.3 million and ordered him to disgorge the same amount, using the dollar figure he pled guilty to stealing from the fund in a state criminal case years ago, according to a Friday filing.

  5. April 19, 2018

    SEC Can Review Expert Docs In Camelot Exec's Fraud Case

    A New York federal judge said Wednesday that the U.S. Securities and Exchange Commission is entitled to review documents provided to experts who were retained to provide testimony in the fraud case against a former Camelot Group executive, even though they will no longer be testifying.

  6. February 01, 2018

    PE Exec's Firm Can't Fight Experts' Subpoenas, SEC Says

    The U.S. Securities and Exchange Commission urged a New York federal judge Wednesday not to toss the subpoenas of two experts once hired to report on the holdings of a former Camelot Group executive accused of stealing $9.3 million from investors, saying the firm lacks standing to challenge the subpoenas.

  7. January 23, 2018

    PE Firm's Atty Looks To Nix SEC Subpoenas To Ex-Experts

    Two experts who were once hired to produce a report on the holdings of a former Camelot Group executive accused of stealing $9.3 million from investors shouldn't have to turn over documents to the U.S. Securities and Exchange Commission, the private equity firm's counsel has told a New York federal court.

  8. December 13, 2017

    SEC Target's Filings Too 'Inept' To Be Atty's, Court Told

    Counsel for corporate clients wrapped up in a U.S. Securities and Exchange Commission lawsuit alleging a private equity executive stole $9.3 million from investors lashed out Tuesday at contentions that the executive is not representing himself, arguing his filings are too "inept" to come from a lawyer.

  9. August 23, 2017

    SEC's Disgorgement Try Against NY PE Exec Needs Hearing

    A New York federal judge on Tuesday denied the U.S. Securities and Exchange Commission's bid for disgorgement and a civil penalty in its case accusing a private equity executive of stealing $9.3 million from investors, ruling that an evidentiary hearing was required before she made a ruling.

  10. December 22, 2016

    SEC Gets Win In $9.3M PE Firm Investor Theft Suit

    A Manhattan federal judge on Wednesday sided with the U.S. Securities and Exchange Commission in its case alleging that the managing director of private equity firm The Camelot Group stole $9.3 million in investor funds, saying that his guilty plea in parallel criminal litigation resolves the case.

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