Canopy Ex-CEO Must Pay Back $2M For $93M Fraud

Law360, New York (April 7, 2011, 1:37 PM EDT) -- An Illinois federal court on Tuesday ordered the co-founder and ex-CEO of now-defunct Canopy Financial Inc. to pay back nearly $2 million he skimmed from a $93 million scheme to solicit investments in the health care banking technology startup.

Jeremy Blackburn, who pled guilty to parallel criminal charges in December, must give up $1.85 million and pay an as-yet-undetermined civil fine for defrauding investors, including entities affiliated with Spectrum Equity Investors, according to an order by the U.S. District Court for the Northern District of Illinois....
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