Nutraceutical Execs Ordered To Pay $1M

Law360, New York (March 14, 2008, 12:00 AM EDT) -- Two former officers of a food preservative manufacturing company have been ordered to pay more than $1 million for their roles in a fraudulent pump-and-dump securities scheme, the U.S. Securities and Exchange Commission announced Thursday.

The U.S. District Court for the the Middle District of Florida ordered Paul Simmons, the former CEO of Nutraceutical Clinical Laboratories, Inc., and former CFO Rodney Gilbert to fork over $692,048 in ill-gotten gains from their participation in the securities scheme in addition to a $220,000 civil penalty for each....
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