2nd Atty In $300M Gold Ponzi Scheme Settles With SEC

Law360, New York (January 27, 2012, 5:38 PM EST) -- The U.S. Securities and Exchange Commission on Friday settled claims in Washington state against an attorney involved in a gold investment firm's $300 million Ponzi scheme, the firm's second lawyer to strike a deal with the regulator in a week.

Florida attorney Larry Lee Adair, former president of Syndicated Gold Depository Inc., agreed to a permanent injunction barring him from ever serving as a securities officer again and to pay disgorgement of ill-gotten gains, prejudgment interest and civil penalties in an amount to be determined later,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Merendon Mining (Nevada) Inc. et al


Case Number

2:10-cv-00955

Court

Washington Western

Nature of Suit

Securities/Commodities

Judge

Richard A Jones

Date Filed

June 10, 2010

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.