Perimeter Chief Settles Over Alleged $4.5M Fraud

Law360, New York (July 20, 2011, 1:26 PM EDT) -- An investment manager settled with the U.S. Securities and Exchange Commission in Georgia on Tuesday over an alleged $4.5 million fraud, agreeing to pay a fraction of the $640,000 the agency said he pocketed.

U.S. District Judge Amy Totenberg wrapped up the SEC’s case against Kenneth Burnt, permanently enjoining the investment manager from violating the securities laws and requiring him to disgorge $51,000 of the money he made from the alleged scam.

“Based on Burnt’s sworn representations in his statement of financial condition ... and other...
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