Ex-Janney Supervisor Must Disgorge Ill-Gotten Gains

Law360, New York (December 15, 2011, 4:02 PM EST) -- A New York federal judge on Thursday ordered former Janney Montgomery Scott LLC stock loan supervisor Joseph Lando to disgorge approximately $139,000 in funds he allegedly obtained through his role in a widespread securities lending scam.

Lando was previously sentenced to three years probation, six months of home confinement and ordered to pay a $100,000 fine in a related criminal case for the same conduct. U.S. District Judge John Gleeson said in Thursday's judgment that Lando is not additionally liable in the civil suit.

According to...
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