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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Simone et al


Case Number

1:07-cv-03928

Court

New York Eastern

Nature of Suit

Securities/Commodities

Judge

Frederic Block

Date Filed

September 20, 2007

Companies

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.