WASHINGTON (AP) — The Supreme Court will decide whether venture capitalist Charles Kokesh has to return millions in investor dollars he used to pay himself and other advisers.
The justices recently said they will review lower court rulings that said Kokesh must pay the Securities and Exchange Commission $34.9 million in “ill-gotten gains” taken before his investment funds went broke.
Kokesh argues that the penalty falls outside a five-year statute of limitations.
Kokesh’s New Mexico-based operation was geared toward small investors and jump-started dozens of successful businesses.
He had argued that investors lost money because of the Great Recession rather than his business practices.
- Posted February 14, 2017
- Tweet This | Share on Facebook
Justices will hear venture capitalist's appeal over SEC fine
headlines Macomb
headlines National
- This Los Angeles lawyer found her calling as a death doula
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Artificial intelligence tools for brief writing and analysis are a small firm litigator’s new best friend
- Baker McKenzie partner drops suit seeking IRS documents on partnership scrutiny
- Family members sue networks after learning of loved ones’ deaths by seeing bodies on TV
- Ex-BigLaw attorney once ‘consumed with remorse’ over $10M client theft sentenced in new scheme