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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Case Information

Case Title

Securities and Exchange Commission v. Simone et al

Case Number



New York Eastern

Nature of Suit



Frederic Block

Date Filed

September 20, 2007


Government Agencies

UK Financial Services

UK Financial Services

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