Alleged Millennium Ponzi Schemer Settles With SEC

Law360, New York (February 11, 2011, 7:10 PM EST) -- Former Millennium Bank Executive Director Philippe Angeloni, accused of helping orchestrate a $68 million Ponzi scheme, has settled with the U.S. Securities and Exchange Commission for an amount to be determined by the court.

The SEC will choose what amount to seek in disgorgement and civil penalties from Angeloni and may choose to seek no money at all, according to the consent judgment entered Thursday in the U.S. District Court for the Northern District of Texas.

Angeloni did not admit guilt in the Ponzi scheme, but...
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Case Information

Case Title

United States Securities and Exchange Commission v. Millennium Bank et al


Case Number

7:09-cv-00050

Court

Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange

Judge

Reed C O'Connor

Date Filed

March 26, 2009

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