SEC Ends Case Over Vescor Ponzi Scheme For $125M

Law360, New York (June 8, 2011, 8:54 PM EDT) -- A Utah federal judge on Wednesday approved a $125.6 million final judgment that settled the U.S. Securities and Exchange Commission's case alleging real estate company Vescor Capital Corp. ran a Ponzi scheme, though it remains to be seen whether the commission can collect.

U.S. District Judge Dee Benson issued an order giving final approval of the deal, which calls for Vescor and affiliated companies to disgorge $125.6 million in profits made from selling allegedly fraudulent notes to investors.

The order ends over three years of SEC...
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Case Information

Case Title

Securities & Exchange Commission v. Vescor Capital Corp et al


Case Number

1:08-cv-00012

Court

Utah

Nature of Suit

Securities/Commodities

Judge

Dee Benson

Date Filed

February 6, 2008

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