SEC Adds Defendant In NJ Affordable Case

Law360, New York (May 16, 2007, 12:00 AM EDT) -- The $40 million Ponzi scheme scandal that felled NJ Affordable Homes Corp. widened on Monday, with the U.S. Securities and Exchange Commission adding a defendant to its fraud case against the bankrupt real estate company.

The amended complaint, filed May 10 in the U.S. District Court for the District of New Jersey and publicly announced by the SEC on Tuesday, added Kenneth Lagonia as a defendant in the case, originally filed in September 2005.

Lagonia, who acted as a consultant to NJ Affordable and was president...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. NJ AFFORDABLE HOMES CORP. et al


Case Number

2:05-cv-04403

Court

New Jersey

Nature of Suit

Securities/Commodities

Judge

Jose L. Linares

Date Filed

September 11, 2005

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.