Relative Of Accused Fraudster Agrees To Pay SEC $736K
Law360 (October 31, 2019, 9:24 PM EDT) -- A relative of an entrepreneur accused of participating in a purported $165 million global pump-and-dump scheme agreed to return $736,000 in allegedly illicit profits to the U.S. Securities and Exchange Commission in Massachusetts federal court Thursday.
Simone Gastauer Foehr, described only as a relative of and relief defendant for German entrepreneur Michael Gastauer and his companies, will only need to cough up the funds if the SEC is awarded a monetary judgment of $736,000 or less against them, according to the consent judgment.
Gastauer was named in the SEC's civil case as a co-defendant of British broker Roger "Rocket" Knox, who is accused of selling penny...
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