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...
To view the full article, register now.