Founding Partners CEO Fights $32M Fraud Penalty

Law360, New York (August 26, 2011, 1:29 PM EDT) -- The head of Founding Partners Capital Management Co. on Thursday urged a Florida federal judge to strike an allegedly illegitimate order requiring the investment adviser to fork over $32 million after settling claims that he perpetrated a $550 million fraud.

William Gunlicks protested that the June disgorgement order and related judgment trampled his due process rights because he never had a chance to conduct discovery before the court rubber-stamped the U.S. Securities and Exchange Commission’s request for the $32 million in disgorgement and penalties.

“The consent...
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Case Information

Case Title

Securities and Exchange Commission v. Founding Partners Capital Management, Co. et al

Case Number



Florida Middle

Nature of Suit



John E. Steele

Date Filed

April 20, 2009

Government Agencies

UK Financial Services

UK Financial Services

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