SEC Seeks No Penalty From IT Firm Over Execs' Alleged Fraud

Law360, New York (September 21, 2017, 7:05 PM EDT) -- A bankrupt information technology company whose former top executives face criminal fraud charges for allegedly plundering their company’s accounts and trying to hide it won’t have to pay a cent under a settlement filed by the U.S. Securities and Exchange Commission in Illinois federal court on Wednesday.

Quadrant 4 System Corp., whose executives Nandu Thondavadi and Dhru Desai were charged with wire fraud last year, had already agreed not to violate federal securities laws, but a partial settlement in July had left the door open for...
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Case Title

United States Securities and Exchange Commission v. Quadrant 4 System Corporation et al


Case Number

1:17-cv-04883

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Sara L. Ellis

Date Filed

June 29, 2017

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