NY Hedge Fund Manager Can't Skip Out On $5M SEC Fine

Law360, Los Angeles (March 25, 2014, 9:18 PM EDT) -- A New York federal judge on Tuesday ordered a former asset manager accused of swindling his clients to pay a U.S. Securities and Exchange Commission-recommended $5.1 million in disgorgement and fines.

U.S. District Judge John G. Koeltl ruled that Walter Gerasimowicz, the sole manager of Meditron Asset Management LLC and several other units named in the SEC’s order, must pay $3.1 million in disgorgement and a $2 million civil penalty for securities law violations, according to the decision.

Gerasimowicz had argued in district court that he...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Gerasimowicz et al

Case Number



New York Southern

Nature of Suit


Part One

Date Filed

January 29, 2014


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.