Law360, Chicago (May 23, 2012, 8:09 PM ET) -- An Illinois federal judge rejected the U.S. Securities and Exchange Commission's bid Wednesday to appoint a receiver for BCI Aircraft Leasing Inc. and the assets of its CEO Brian Hollnagel, both recently found guilty in a parallel criminal case of running a $50 million fraudulent financing scheme.
U.S. District Judge Elaine E. Bucklo explained her ruling in an opinion entered shortly after a hearing Wednesday morning, writing that while the SEC's concern for protecting assets is commendable, the agency "has not shown that the government does...
Judge Denies SEC's Receiver Bid For BCI Aircraft, CEO
To view the full article, take a free trial now.
