SEC seeks takedown of prominent Wall Street executive Tilton


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — A government lawyer says prominent Wall Street executive Lynn Tilton cheated investors in failing companies of more than $200 million and should be banned from the industry.

But her lawyer says the Securities and Exchange Commission has created a laughable fraud case built on revisionist history. The dispute is being aired before an administrative law judge in New York federal court.

SEC senior trial counsel Dugan Bliss says the SEC wants Tilton banned from the securities industry and forced to give up $200 million.

Her lawyer, Randy Mastro, said in opening statements Monday she was already worth almost $1 billion when the SEC claims she tried to cheat investors. He says she followed rules and even put $440 million of her own money into companies and investment funds.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast