The National Law Journal by Jenna Greene - June 15, 2010
Former Mayer Brown partner Joseph Collins, already sentenced to seven years in prison, has settled final charges with the Securities and Exchange Commission. The judgment against Collins, to which he consented without admitting or denying SEC allegations, doesn't have much sting. He's simply enjoined from violating Section 10(b) of the Securities Exchange Act of 1934. The rule bars the use of manipulative and deceptive practices in the purchase or sale of securities. The SEC originally also sought monetary penalties against Collins. In July 2009, Collins was found guilty by a Manhattan jury on conspiracy, two counts of securities fraud, and two counts of wire fraud in connection to the 2005 collapse of Refco Inc.. He was sentenced to prison in January. The SEC, in its complaint, alleged that Collins aided and abetted a financial fraud by substantially assisting Refco in its failure to disclose hundreds of millions of dollars in related party indebtedness.
Former Mayer Brown partner Joseph Collins, already sentenced to seven years in prison, has settled final charges with the Securities and Exchange Commission. The judgment against Collins, to which he consented without admitting or denying SEC allegations, doesn't have much sting. He's simply enjoined from violating Section 10(b) of the Securities Exchange Act of 1934. The rule bars the use of manipulative and deceptive practices in the purchase or sale of securities. The SEC originally also sought monetary penalties against Collins. In July 2009, Collins was found guilty by a Manhattan jury on conspiracy, two counts of securities fraud, and two counts of wire fraud in connection to the 2005 collapse of Refco Inc.. He was sentenced to prison in January. The SEC, in its complaint, alleged that Collins aided and abetted a financial fraud by substantially assisting Refco in its failure to disclose hundreds of millions of dollars in related party indebtedness.
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2 comments:
Another 'officer of the court' making everyone proud.
What a complete piece of garbage. And he's a lawyer? I just don't get what's going on in this country.
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