Pentagon Capital Must Pay $77M In SEC Late-Trading Case

Law360, New York (February 14, 2012, 9:45 PM EST) -- A New York federal judge on Tuesday ordered Pentagon Capital Management PLC to pay $76.8 million after the U.S. Securities and Exchange Commission accused the British hedge fund of netting $62 million through a scheme to defraud U.S. mutual funds by illegal late trading.

U.S. District Judge Robert W. Sweet said in a 126-page opinion that Pentagon had violated securities laws by submitting late-trade orders, and sentenced the hedge fund to disgorge $38.4 million and to pay an additional $38.4 million in civil penalties, according to...
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Case Information

Case Title

Securities and Exchange Commisison v. Pentagon Capital Management PLC et al


Case Number

1:08-cv-03324

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Robert W. Sweet

Date Filed

April 3, 2008

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