Sacane, Durus Settle With SEC

Law360, New York (August 30, 2007, 12:00 AM EDT) -- Disgraced hedge fund manager Scott R. Sacane and his old fund, Connecticut-based Durus Capital Management LLC, together agreed to injunctions against violating numerous securities laws in settling a civil suit brought by the U.S. Securities and Exchange Commission.

A federal judge entered final judgments against Sacane, Durus, and a Durus subsidiary Monday in the U.S. District Court for the District of Connecticut.

The settlement did not require restitution, since the court has already compelled Sacane to disgorge $5.7 million as part of his criminal sentence, according...
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