Three former Mutuals.com
executives have recently received some good news. Richard Sapio
, Eric McDonald
and Michele Leftwich
have yet to be tried on charges of wire fraud, securities fraud and conspiracy to commit fraud, but have reached a settlement
with the SEC
on September 26.
Sapio was ordered a civil penalty of $120,000. McDonald was ordered a disgorgement of $59,322, plus prejudgement interest of $11, 371, which was waived based on his statement of financial condition. Leftwich was ordered a disgorgement of $39,635, plus prejudgement interest of $7,597; she also had her payment waived on account of financial condition.
The SEC filed a civil complaint against the three in December 2003.
In March 2004, the U.S. Attorney for the Southern District of New York lodged a criminal compliant against the trio. On October 22 of this year, Judge Richard Berman
ruled that the criminal trial could be delayed another 6 months.
The three defendants are currently out on bail.
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