Ex-Refco CEO Faces Civil Suit From SEC

Law360, New York (February 19, 2008, 12:00 AM EST) -- Former Refco Inc. Chief Executive Phillip R. Bennett, who is already facing the possible equivalent of a life sentence after pleading guilty to 20 criminal counts on Friday, was sued by the U.S. Securities and Exchange Commission on Tuesday for concealing Refco's finances from investors.

The SEC alleged in its complaint, filed in the U.S. District Court for the Southern District of New York, that Bennett carried out a scheme since at least 1998, in which he transferred Refco's debts to third parties at the end...
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