SEC Opposes Case Delay For Firms Tied To $165M Fraud
Law360 (June 4, 2019, 7:54 PM EDT) -- The companies that a British broker is accused of using to cover up his $165 million global pump-and-dump scheme should not be allowed to pause a civil suit while the suspected fraudster's criminal case moves forward, the U.S. Securities and Exchange Commission said Tuesday.
The agency told a Massachusetts federal judge that neither Roger "Rocket" Knox's partner, defendant Michael Gastauer, nor the co-defendant companies that he controls is charged in the criminal case, so there is “no good reason to forestall” discovery for the agency’s civil claims against Gastauer’s entities for aiding and abetting Knox’s fraud.
While prosecutors have had the...
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