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Securities and Exchange Commission v. McGinn, Smith & Co, Inc. et al

  1. March 30, 2015

    SEC Wins $99M From Convicted McGinn Smith Brokers

    A New York federal judge on Friday granted a request by the U.S. Securities and Exchange Commission to order two former McGinn Smith & Co. brokers accused of a $126 million investment scheme to pay more than $99 million back to investors, and also tapped numerous assets from which to draw the funds.

  2. March 04, 2015

    SEC Seeks $99M From Convicted McGinn Smith Brokers

    The U.S. Securities and Exchange Commission on Tuesday asked a New York federal judge to order two McGinn Smith & Co. brokers accused of a $126 million investment scheme to pay $87,433,200 in disgorgement fees and $11,668,000 in prejudgment interest, less than half of the amount in penalties that the commission had lobbied for last month.

  3. February 17, 2015

    SEC Didn't Justify $248M Payout In Fraud Case, Judge Says

    The U.S. Securities and Exchange Commission failed to provide adequate evidence that two McGinn Smith & Co. brokers convicted of orchestrating an investment scheme should be ordered to pay $124 million in disgorgement and $124 million in civil penalties, a New York federal judge ruled Tuesday.

  4. July 09, 2014

    SEC Demands Judgment Against Execs In $126M Fraud

    The Securities and Exchange Commission urged a New York federal judge on Tuesday to enter judgment against two convicted brokers, saying it has "overwhelming" evidence that they used their company, McGinn Smith & Co., to perpetrate a $126 million investment fraud.

  5. September 23, 2013

    SEC Charges 10 Ex-McGinn Smith Brokers In $125M Scheme

    The U.S. Securities and Exchange Commission has charged 10 former bankers from McGinn Smith & Co. that the SEC says are at the center of a $125 million investment scheme, the commission announced Monday.

  6. April 05, 2012

    Judge Releases Some McGinn Assets For Criminal Defense

    A New York federal judge on Wednesday allowed the alleged perpetrators of a $136 million securities fraud at McGinn Smith & Co. to unfreeze some of their assets to pay for a separate criminal trial against them, as long as those assets were not proceeds of illegal activity.

  7. March 13, 2012

    McGinn Smith Founder's Wife Seeks To Avoid $1M Penalty

    The wife of McGinn Smith & Co.'s founder asked the Second Circuit on Tuesday to reverse an order that she pay $1 million for allegedly hiding money from securities regulators, arguing she had not intended to mislead anyone.

  8. August 22, 2011

    McGinn Smith Founder's Wife Must Seek Relief In 2nd Circ.

    The wife of McGinn Smith & Co. Inc.'s founder was told Monday to go to the Second Circuit if she wants to challenge $1 million in sanctions imposed for allegedly hiding a trust fund from regulators in a $136 million securities fraud suit against the brokerage.

  9. July 20, 2011

    McGinn Smith Founder's Wife Hit With $1M In Sanctions

    The wife of McGinn Smith & Co. Inc. founder David Smith was hit with nearly $1 million in sanctions Wednesday in New York for allegedly hiding a $4 million trust fund from regulators in a $136 million securities fraud suit against the brokerage.

  10. May 16, 2011

    SEC Can Use Probe Docs In McGinn Fraud Suit: Judge

    A New York federal judge on Monday refused to prevent the U.S. Securities and Exchange Commission from using documents procured in a criminal investigation in its civil suit alleging McGinn Smith & Co. and its founders ran a $136 million securities fraud.

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