Mining Exec Says SEC Trying To 'Crucify' Him

Law360, New York (April 28, 2011, 11:54 AM EDT) -- A mining executive whose company already faces a civil penalty of $100,000 slammed regulators in a related case Tuesday, telling a Texas federal judge that the U.S. Securities and Exchange Commission was on a "sightless quest to crucify" him.

In June, John W. Petros and his company Tsukuda-America Inc. were ordered by U.S. District Judge Barbara M. G. Lynn to pay a $100,000 civil penalty for "fraud, deceit, manipulation, or deliberate or reckless disregard" for securities laws when Petros tried to sell penny stocks and faked...
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Case Information

Case Title

Securities and Exchange Commission v. Petros


Case Number

3:10-cv-01178

Court

Texas Northern

Nature of Suit

Securities/Commodities

Judge

Barbara M.G. Lynn

Date Filed

June 11, 2010

Government Agencies

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