SEC Goes After ICP Founder's Homes In CDO Fraud Case

Law360, New York (May 5, 2011, 1:55 PM EDT) -- Securities regulators on Thursday accused ICP Asset Management LLC’s founder of trying to shield two homes from a lawsuit in New York federal court alleging that he defrauded collateralized debt obligations investors.

The U.S. Securities and Exchange Commission said in court filings that defendant Thomas C. Priore transferred the homes in Martha's Vineyard, Mass., and Westchester County, N.Y., to a trust controlled by himself, his wife and a friend in March 2010 when he learned claims would be brought against him.

The regulatory body asked a...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. ICP Asset Management, LLC et al


Case Number

1:10-cv-04791

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Lewis A. Kaplan

Date Filed

June 21, 2010

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.