SEC Settles With Reinsurance Exec Accused Of $2.5M Fraud

Law360, New York (January 11, 2018, 3:44 PM EST) -- The U.S. Securities and Exchange Commission told a Connecticut federal court Thursday that it has reached a deal to settle claims that a veteran of the reinsurance industry spent much of the $2.5 million he raised from investors on personal expenses, Ponzi-like payments and pooches.

The SEC said that David S. Haddad consented to a final judgment that would hold him liable for paying more than $900,000 in disgorgement and interest as well as a civil penalty of more than $180,000. The judgment would additionally include...
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Case Information

Case Title

Securities and Exchange Commission v. Haddad et al


Case Number

3:18-cv-00055

Court

Connecticut

Nature of Suit

Securities/Commodities

Judge

Warren W. Eginton

Date Filed

January 11, 2018

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