Radio Host Sues SEC To Block Possible $100M Fine

Law360, New York (January 30, 2014, 2:04 PM EST) -- A Houston-based hedge fund manager and radio talk show host filed suit against the U.S. Securities and Exchange Commission in Washington, D.C., federal court Wednesday in an attempt to ward off a potential $100 million fine and lifetime ban from the securities industry.

George Jarkesy Jr. and his brokerage firm, Patriot 28 LLC, claim that the SEC is unfairly attempting to move forward with an administrative hearing, scheduled for Feb. 3, at which he could be found liable for defrauding investors out of millions.

The suit...
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