New York AG Sues Feeder to Madoff Fraud

The New York state attorney general has filed a civil suit in state court charging money manager and philanthropist J. Ezra Merkin with fraud and breach of fiduciary duty based on New York State law. The complaint alleges that Merkin fraudulently invested approximately $2.4 billion with convicted fraudster Bernard Madoff and fraudulently derived management fees […]

Investment Advisor Forced to Disgorge Irrespective of his Loss

In the case of SEC v. Seghers, the Fifth Circuit determined that an investment advisor who lost his own investment while engaging in fraud still had to pay disgorgement. The case alleged that an investment advisor knowingly provided inaccurate information to a hedge fund. The complaint also alleged that he failed to disclose errors to […]