Lancer Insider Trader Pays $1.5M To End Civil Suit

Law360, New York (April 11, 2012, 7:01 PM EDT) -- Convicted Lancer Group securities trader Eric Hauser agreed Wednesday to pay $1.55 million and provide future testimony to settle a slew of fraud and misconduct claims brought by the U.S. Securities and Exchange Commission on behalf of defrauded investors.

The agreement reduces the amount of restitution Hauser must pay for his role in Lancer's allegedly fraudulent trading schemes and secures his cooperation in further investigations.

“Hauser shall provide all information and documents to the receiver to assist in the receiver's ongoing investigation and litigation, whether in...
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