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...
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Case Information

Case Title

United States Commodity Futures Trading Commission v. Battoo et al

Case Number



Illinois Northern

Nature of Suit


Date Filed

September 6, 2012


Government Agencies

UK Financial Services

UK Financial Services

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