SEC is only responsible for regulating, they have no ability to try/convict/imprison. I believe they did refer this case to the FBI.
Just to point this out, I think prison sounds like a fine idea for this guy, but he’s been dealt a serious blow. Besides being fined 16M (2M personally), he’s likely lost his ability to earn as an accountant. I doubt he could get a job as a cashier at this point.
Seems like massive fraud should result in jail time, but I’m not wealthy enough to have an opinion on the matter.
SEC is only responsible for regulating, they have no ability to try/convict/imprison. I believe they did refer this case to the FBI.
Just to point this out, I think prison sounds like a fine idea for this guy, but he’s been dealt a serious blow. Besides being fined 16M (2M personally), he’s likely lost his ability to earn as an accountant. I doubt he could get a job as a cashier at this point.
Pretty sure he, you, and I could all easily retire on whatever he has left.