Ex-Wealth Management Exec, SEC Strike $1.4M Deal

Law360, New York (February 26, 2010, 3:51 PM EST) -- The U.S. Securities and Exchange Commission has settled for $1.4 million a suit against an ex-Wealth Management LLC executive accusing him of taking kickbacks and steering retirees to risky investments he touted as conservative.

The SEC filed the settlement agreement on Thursday in the U.S. District Court for the Eastern District of Wisconsin, in which WM's former President and Chief Investment Officer Simone Fevola agreed to pay disgorgement and interest to end the securities suit.

The SEC accused Fevola, WM and its majority owner and CEO...
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Case Information

Case Title

United States Securities and Exchange Commission v. Wealth Management LLC et al


Case Number

1:09-cv-00506

Court

Wisconsin Eastern

Nature of Suit

Securities/Commodities

Judge

William C Griesbach

Date Filed

May 20, 2009

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