MAK 1, Officers Told To Pay $60M For Ponzi Scheme

Law360, New York (March 23, 2011, 5:20 PM EDT) -- A California federal judge approved a series of settlements Monday that will see a currency trading firm accused of engaging in a $70 million Ponzi scheme and two of its principal officers pay a disgorgement penalty of about $60.3 million.

Judge Roger T. Benitez of the U.S. District Court for the Southern District of California approved three separate U.S. Securities and Exchange Commission deals with MAK 1 Enterprises Group, owner Mohit Khanna and his wife, Sharanjit K. Khanna.

MAK 1 will pay about $35.2 million in...
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Case Information

Case Title

Securities and Exchange Commission v. Khanna et al

Case Number



California Southern

Nature of Suit



Roger T. Benitez

Date Filed

August 17, 2009

Government Agencies

UK Financial Services

UK Financial Services

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