Law360, New York (July 30, 2008, 12:00 AM EDT) -- Weeks after being sentenced to more than a dozen years in jail, former Refco Inc. CEO Phillip R. Bennett has reached a settlement with the U.S. Securities and Exchange Commission over his role in the massive fraud that brought the commodities brokerage giant to its knees.
On Tuesday, U.S. District Judge Gerard Lynch signed off on the deal, putting to rest the civil fraud charges the agency brought against the former high-flying executive.
The judgment bans Bennett from serving as an officer or director of a...
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.