SEC Seeks New Receiver In $550M Fraud Case

Law360, New York (May 19, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is scrambling to get a judge to approve an alternate receiver in its $550 million fraud case against Florida financier William L. Gunlicks and his company, after the first court-appointed receiver was jettisoned because of a potential conflict.

The SEC's move came on the heels of Judge John E. Steele's May 13 order in the U.S. District Court for the Middle District of Florida that not only booted the first receiver but also left unfrozen certain assets held by Sun...
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