Bogus Transfer Claim Settled In $10M Securities Fraud Case

Law360, Houston (July 23, 2013, 8:54 PM EDT) -- A Texas federal judge on Tuesday signed off on a $50,000 settlement between the receiver of Kaleta Capital Management Inc. and an investment firm that acquired through an allegedly sham transaction a company involved in a $10 million fraudulent securities offering orchestrated by Kaleta.

Over the objection of investors who described the settlement figure as too low, U.S. District Judge Nancy Atlas upheld the deal between Barrington Financial Advisors Inc. and its founder William C. Heath and Kaleta Capital receiver Thomas L. Taylor III, saying that...
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Case Information

Case Title

Securities & Exchange Commission v. Kaleta et al


Case Number

4:09-cv-03674

Court

Texas Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Nancy F. Atlas

Date Filed

November 13, 2009


Case Title

Taylor III v. Frishberg et al


Case Number

4:12-cv-01491

Court

Texas Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Nancy F. Atlas

Date Filed

May 10, 2012

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