SEC, CFTC Say Asset Firm Hid $140M In Losses

Law360, New York (September 7, 2012, 10:37 PM EDT) -- U.S. regulators on Thursday targeted asset management firm BC Capital Group S.A. and its principal for allegedly exaggerating investment returns while hiding $140 million in losses from investments in failed schemes including with Bernard Madoff.  

In suits filed in Illinois federal court, the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission claimed that BC Capital and its principal Nikolai Battoo misled investors by hiding the extent of the losses or that their investments had suffered losses at all.

The SEC, which...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

United States Commodity Futures Trading Commission v. Battoo et al


Case Number

1:12-cv-07127

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Date Filed

September 6, 2012

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.