Judge In $300M Ponzi Suit Latest To Reject SEC Deals

Law360, New York (March 5, 2012, 7:31 PM EST) -- A federal judge in Washington state on Monday became the latest to reject settlements inked by the U.S. Securities and Exchange Commission, in this case refusing to bless deals the agency reached with three defendants accused of participating in a $300 million Ponzi scheme.

U.S. District Judge Richard A. Jones criticized the SEC for seeking permanent injunctions and final judgments against the defendants — two former attorneys for Syndicated Gold Depository Inc. and a director of Merendon Mining (Nevada) Inc. — while attempting to reserve the...
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

Law Firms

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.