SEC Seeks Sanctions For CEO Of Memorabilia Biz

Law360 (July 20, 2020, 6:33 PM EDT) -- The U.S. Securities and Exchange Commission asked a New York federal judge Friday to sanction the CEO of a sports memorabilia auction company and his wife for violating a temporary restraining order in a multimillion-dollar fraud suit, saying the couple covertly transferred cash from the U.S. to Russia, perpetrated two insurance fraud schemes and destroyed communications at the center of the schemes.

Mykalai Kontilai, and his wife, Veronica Kontilai, violated the temporary restraining order's freezing of assets when Veronica Kontilai transferred funds to her husband in Russia, the SEC said.

"Mykalai and Veronica had control of a substantial amount of cash...

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