Socius Settles Fraud Suit With SEC For $1.5M

Law360, New York (August 7, 2008, 12:00 AM EDT) -- Shell company Socius Holdings Ltd. settled a suit with the U.S. Securities and Exchange Commission Wednesday, agreeing to fork over $1.5 million for its role in an allegedly fraudulent stock manipulation scheme.

Judge Paul A. Crotty of the U.S. District Court for the Southern District of New York issued a final judgment against Socius, an entity incorporated in the British Virgin Islands and operating out of Geneva, for participating in a scheme to drive up the stock of Cameron International Inc., a purported marketing firm....
To view the full article, register now.

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.