Alleged Oil And Gas Trickster Hit With $7.5M Judgment
Law360, Los Angeles (March 20, 2014, 6:24 PM EDT) -- A Florida federal judge on Wednesday ordered a man who the U.S. Securities and Exchange Commission alleged fraudulently offered investments in oil drilling projects to pay $7.6 million in disgorgements, prejudgment interest and civil penalties, ending a lawsuit brought by the SEC.
Joseph Hilton, formerly known as Joseph Yurkin, had previously consented to a permanent injunction to prohibit specific Securities Act violations, the commission's entitlement to disgorgement and interest, a civil money penalty and an order to comply with the broker-dealer bar the SEC previously issued against him. On Wednesday, U.S. District Judge Donald Middlebrooks signed off on Hilton's consent, which...
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