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SEC Reels In Businessman In $40M Fraud Case

Law360 (April 23, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has secured a final judgment against a Texas businessman accused of scamming investors out of $40 million in a fraudulent debenture offering, in his second fraud-related run-in with the agency.

Judge Sam R. Cummings of the U.S. District Court for the Northern District of Texas signed off on the final judgment Tuesday. Under the terms of the settlement, Benny L. Judah and his company, Excel Lease Fund Inc., are subject to disgorgement and civil penalties and are barred from any...
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