Tag

Disgorgement

All articles tagged with #disgorgement

business9 hours ago•1 min saved

Court expands SEC disgorgement reach in securities fraud

The Supreme Court unanimously upheld the SEC’s broad power to disgorge ill‑gotten gains in securities fraud, ruling that the agency need not prove that individual investors lost money—only that the offender profited and that investors may be victims eligible for compensation. The decision, tied to a case involving penny-stock pump‑and‑dump schemes, allows the SEC to order more than $3 million (including interest) returned to investors, reinforcing federal enforcement of fraud.”

via ABC News - Breaking News, Latest News and Videos|

#business #disgorgement #penny-stocks

legal2 years ago•6 min saved

"NY AG Targets Trump for $370M in Civil Fraud Case"

New York Attorney General Letitia James is seeking $370 million from Donald Trump and his co-defendants in a civil fraud trial, aiming to bar them from doing business in the state. The sum represents an increase from the initial $250 million sought, based on allegations of fraudulent financial statements that purportedly benefited Trump financially. The trial has already seen a summary judgment ruling against Trump for persistent fraud, and his attorneys are planning appeals. The attorney general also seeks a five-year business ban for Donald Trump Jr. and Eric Trump, while Trump's legal team denies any intent to defraud and questions the credibility of key witnesses. Judge Arthur Engoron has dismissed several of Trump's defense arguments and will soon hear closing arguments in the case.

via CNN|

##businessban #civilfraud

legal2 years ago•3 min saved

Judge undermines Trump's defense in NY civil fraud case, signaling trouble for former president

In a blow to former President Donald Trump, the trial judge overseeing his civil fraud case in New York rejected key points of his defense and criticized his accounting experts. Judge Arthur Engoron denied Trump's motion for a directed verdict, stating that it would be a "glaring flaw" to assume the testimony of the accounting experts was true and accurate. Engoron also dismissed the defense's arguments regarding valuations and disclaimers on Trump's financial statements. The judge found the Attorney General's expert on disgorgement credible and stated that the banks that lent Trump money were injured despite claims that they loved his business. Engoron will soon determine the amount of disgorgement Trump will need to pay and rule on other causes of action.

via CNN|

#civil-fraud-case #disgorgement #donald-trump