11th Circ. Orders New Look At Penalty In SEC Loan Fraud Suit
By Katryna Perera ( September 6, 2024, 8:53 PM EDT) -- The Eleventh Circuit on Friday rejected a bid from a couple accused by the U.S. Securities and Exchange Commission of a nearly half-a-billion-dollar fraud to reverse an order expanding a receivership of their merchant loan business, but it vacated $43.7 million in penalties they were ordered to pay on the grounds it was unclear who was liable for what....
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