2nd Circ. Affirms Fraud Penalty For Brightpoint Exec

Law360, New York (November 24, 2009, 1:23 PM EST) -- A federal appeals court has granted no relief to the final defendant in one of the first finite reinsurance accounting frauds prosecuted by the U.S. Securities and Exchange Commission, affirming a $50,000 civil penalty for aiding and abetting the primary actors of the scam.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit on Monday found that the district court had not erred in levying the fine and threw out all of the objections of Timothy Harcharik, pro se, primarily because he...
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