SEC Settles Suit Over Ohio Workers' Comp

Law360, New York (September 15, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has agreed to settle its charges against Mark D. Lay, a former investment manager who is currently serving a 12-year prison term for a fraud conviction stemming from his alleged role in an investment scheme that cost the Ohio Bureau of Workers' Compensation more than $200 million.

The SEC filed a settled suit on Thursday in the U.S. District Court for the Western District of Pennsylvania against Pittsburgh-based MDL Capital Management Inc. and Lay, its former chairman and chief executive....
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