Judge hands Conn for $ 1.5 million. Broker in a SEC matter


Law360 (July 6, 2021, 8:32 p.m. EDT) – A federal judge in Connecticut ruled on Tuesday not to charge an investment adviser the full amount requested by the United States Securities and Exchange Commission for defrauding its clients , but still ordered fines of $ 1.5 million and restitution against the broker and his firm.

U.S. District Judge Jeffrey Alker Meyer said “substantial civil penalties” were still warranted for Westport Capital Markets LLC and its owner, Christopher McClure, after the judge and a jury separately concluded that they had generated hundreds of dollars. thousands of dollars in mark-ups and intentionally undisclosed fees. .

It is undisputed, however, that the two “do not have the current capacity to pay a substantial financial sum …

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