Supreme Court rules to allow disgorgement awards for securities fraud

  • Written by GCBI Team Posted on June 25, 2020 | Updated on June 25, 2020 | 1 min read

Despite a petition by a couple who misappropriated almost $20 million of EB-5 capital, the Supreme Court ruled that disgorgment of ill-gotten gains that does not exceed the wrongdoer’s net profits is permissible. Justice Sotomayor stated that there is a foundational principle that it is “inequitable” for someone to profit from a wrong-doing.

Read the Jurist article