Litigation
Sep. 28, 2016
SEC drops key charges against mortgage lenders
After unsuccessful trial, SEC drops most of remaining charges for retrial of Thornburg executives.
Daily Journal Staff Writer
The Securities and Exchange Commission dropped three key fraud charges Friday against a pair of former mortgage industry executives alleged to have defrauded investors shortly before the 2008 stock market crash.
When charges were filed in 2012, the SEC alleged that the executives schemed to fraudulently overstate the Thornburg Mortgage Inc.'s income by more than $400 mil...
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