SEC argues losing disgorgement power would help fraudsters, hurt victims

  • Posted on January 29, 2020 | Updated on February 3, 2020 | 5 min read

A husband and wife who defrauded EB-5 investors of almost $27 million, have made a legal challenge of the Security and Exchange Commission’s disgorgement ability. The SEC told the Supreme Court that losing that power would “make it easier for wrongdoers to keep their ill-gotten gains,” reduce the deterrent effect to fraudsters, and hurt victims— who would have to launch civil lawsuits for equitable relief. 

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