Jailed Ex-Bancorp Exec Can Still Face SEC Charges

Law360, New York (September 14, 2010, 7:55 PM EDT) -- Imprisoned on charges from the Credit Bancorp Ltd. Ponzi scheme, former executive Thomas Rittweger has lost his attempt to dodge a parallel civil suit, though he escaped further financial penalties because of an $18 million restitution order from the criminal case.

Judge Robert Sweet of U.S. District Court for the Southern District of New York ruled in favor of the U.S. Securities and Exchange Commission on its injunctive claims Friday, but prevented the SEC from pursuing further monetary damages, ending more than 10 years of civil...
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