Ex-Miami Budget Director Says SEC Wrongly Targeting Him

Law360, New York (October 8, 2013, 4:33 PM EDT) -- The city of Miami's former budget director on Monday said the U.S. Securities and Exchange Commission's fraud suit alleging that he attempted to hide the city's deteriorating financial health by making multimillion-dollar transfers was improper because his actions were all approved by higher-ranking city officials.

Michael Boudreaux said in a motion to dismiss filed in federal district court in Miami that he was entitled to qualified immunity from the SEC's suit because he was only acting in his official capacity when he made the cash transfers...
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