Judge Says Ex-GlobeTel CEO Should Pay $2.7M

Law360, New York (February 16, 2012, 6:04 PM EST) -- A Florida federal judge recommended Thursday that jailed former GlobeTel Communications Corp. CEO Timothy Huff pay a $1.2 million civil penalty and disgorge $1.5 million for his role in the telecommunications company's revenue inflation scheme.

U.S. Magistrate Judge Ted E. Bandstra said in a report and recommendation that Huff’s criminal conviction did not preclude the U.S. Securities and Exchange Commission’s bid for a civil fine. Huff was sentenced July 25 to over four years in prison and ordered to pay $523,550 in restitution for creating fake...
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