Founding Partners Exec Reaches Deal In $550M SEC Suit

Law360, New York (February 23, 2010, 1:17 PM EST) -- Florida financier William Gunlicks has consented to a permanent injunction and agreed to pay a civil penalty as part of a deal to end his involvement in the U.S. Securities and Exchange Commission's $550 million fraud lawsuit against Gunlicks and his company Founding Partners Capital Management Co.

The SEC filed a motion Monday in the U.S. District Court for the Middle District of Florida seeking entry of a consent judgment that would resolve all issues of liability with respect to Gunlicks.

Without admitting or denying the...
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