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 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

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