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Securities and Exchange Commis v. Monterosso
Case Number:
13-10341
Court:
Nature of Suit:
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March 03, 2014
11th Circ. Won't Reduce Fraud Penalties For GlobeTel Execs
The Eleventh Circuit on Monday upheld $1.9 million in civil penalties levied by the U.S. Securities and Exchange Commission against three former GlobeTel Communications Corp. employees for their roles in a scheme to report $119 million in inflated company revenue.
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December 13, 2013
Ex-GlobeTel Execs Say Penalties Too High For $119M Fraud
Three former GlobeTel Communications Corp. employees accused by the U.S. Securities and Exchange Commission of aiding a scheme to report $119 million in inflated company revenue appealed rulings against them, telling an Eleventh Circuit panel Friday that the penalties were too large.