Fund Manager To Pay $300K Fine In SEC PIPE Suit

Law360, New York (August 10, 2009, 2:07 PM EDT) -- A Texas hedge fund manager accused of orchestrating a $6.5 million illegal trading scheme has agreed to pay a $300,000 fine to resolve the U.S. Securities and Exchange Commission’s long-running case against him.

Judge Sidney Stein of the U.S. District Court for the Southern District of New York issued a final judgment against Gryphon Advisors LLC fund manager Edwin “Bucky” Buchanan Lyon IV on Friday, more than two years after the commission first sued the Dallas-based money man.

The SEC sued Lyon and Gryphon in December...
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