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SEC Gets $9.6M Judgment Against Galanis For Gerova Fraud

Law360 (August 10, 2018, 5:05 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday nabbed a final judgment against convicted fraudster Jason Galanis that orders him to disgorge more than $9.6 million from proceeds he received through a scheme to illegally procure and then sell off stock in Gerova Financial Group Ltd.

Galanis has already been sentenced to more than 11 years in prison after pleading guilty to securities fraud charges connected to the Gerova scheme. That guilty plea underpins the SEC’s judgment order, which notes that the two cases relied on the same set of facts and that Galanis’ disgorgement obligation to the regulator will be...

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Case Information

Case Title

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Case Number

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New York Southern

Nature of Suit



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Date Filed

September 24, 2015


Government Agencies