Ex-Partner Of CNBC's Suze Orman Settles SEC Fraud Claims

Law360, New York (January 30, 2014, 6:44 PM EST) -- A New York-based money manager who co-founded an investing newsletter with CNBC personality Suze Orman on Thursday settled a U.S. Securities and Exchange Commission action over the newsletter's allegedly false claims.

Mark A. Grimaldi, who owns Navigator Money Management Inc., agreed to pay a $100,000 penalty to settle an SEC administrative case, the commission said Thursday. The commission targeted Grimaldi for allegedly distributing misleading statements through Twitter and his newsletters, including one called “The Money Navigator,” which he co-founded in February 2011 with CNBC’s Orman. 

“The securities...
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