Gabelli Finds Funds For DOJ Settlement

Law360, New York (July 10, 2006, 12:00 AM EDT) -- The $100 million stumbling block that has been preventing money manager Mario Gabelli from settling antitrust charges brought by the Department of Justice has been removed, clearing the way for a deal to be finalized.

Lynch Interactive, Gabelli’s telecommunications company, has successfully secured financing to pay the $100 million, which will settle civil fraud allegations that he executed a scheme to deceive the government in auctions for cell phone licenses.

Under the False Claims Act, Russell Taylor III, the private plaintiff who initiated the civil suit...
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