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Stockbroker Charged In Loan Scheme Must Disgorge $2M

Law360 (May 16, 2019, 8:26 PM EDT) -- A California federal judge ordered the former president of a Boca Raton, Florida-based stock brokerage to pay about $2 million in disgorgement after he profited off a loan scheme the U.S. Securities and Exchange Commission says began in 2012.

Jeffrey Spanier, former president of AmeriFund Capital Finance LLC, is also permanently barred from practicing as a registered broker or dealer or in any way trying to sell securities, according to U.S. District Judge M. James Lorenz’s order issued Wednesday.

The order finds Spanier liable for disgorgement of ill-gotten gains and prejudgment interest of precisely $2,057,185.29. But that amount will be deemed...

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Case Title

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Court

California Southern

Nature of Suit

Securities/Commodities

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Date Filed

March 15, 2012

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