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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities Exchange v. Lauer, et al


Case Number

9:03-cv-80612

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Kenneth A. Marra

Date Filed

July 8, 2003

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.