Court Reverses Securities Penalty Leaving Minor Player Liable For Entire Loss

( September 25, 2024, 8:38 AM EDT) -- NEW ORLEANS — A district court erred in ordering a man who played a minor role in a gold mine penny-stock fraud scheme to disgorge the entire $333,110 fraudulently obtained from investors, a panel of the Fifth Circuit U.S. Court of Appeals said in reversing the award....