SEC Seeks Disgorgement From Safescript VIPs

Law360, New York (December 20, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has called on a federal court to order the principals of now-defunct Safescript Pharmacies Inc. to return millions of dollars allegedly pocketed in a scam to defraud investors.

In a motion filed Wednesday with the U.S. District Court for the Eastern District of Texas, the SEC called for an order against the three defendants, two of whom will be jailed in January for money laundering and conspiracy, to pay $2.5 million in disgorgement of their allegedly ill-gotten profits.

The federal...
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