SEC Wins $14.7M In Judgments Over FCC Licensing Scheme

Law360 (February 9, 2018, 5:49 PM EST) -- An Arizona man and several companies he controls will have to pay more than $14 million in disgorgements and civil penalties after a federal judge sided with the U.S. Securities and Exchange Commission on allegations that they participated in a fraud scheme involving applications to the Federal Communications Commission for cellular spectrum licenses.

U.S. District Judge Stephen N. McNamee found that the SEC properly argued for heightened disgorgement and other penalties against Daryl G. Bank, Dominion Private Client Group LLC, Spectrum 100 Management LLC, Spectrum Management...
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