Ex-Asset Manager CEO Loses Bid To Avoid $17M Bill

Law360, London (February 26, 2020, 8:27 PM GMT) -- A former chief executive of FM Capital accused of fraud and corruption lost his bid on Wednesday to reduce the $17 million he has to pay the asset manager, after an appeals court ruled that he wasn't guaranteed a discount for other settlements in the case.

The Court of Appeal has upheld a ruling that ordered Frederic Marino, a former director and chief executive officer at FM Capital Partners, to pay his former employer $17.35 million in restitution, dismissing his argument that the asset manager should give him credit for sums it has secured from other defendants for the same alleged...

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