{"id":4740,"date":"2017-06-10T23:19:36","date_gmt":"2017-06-11T04:19:36","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4389"},"modified":"2022-03-30T12:54:08","modified_gmt":"2022-03-30T17:54:08","slug":"us-supreme-court-restricts-secs-ability-recover-monies-made-illegal-conduct","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-supreme-court-restricts-secs-ability-recover-monies-made-illegal-conduct\/","title":{"rendered":"US Supreme Court Restricts SEC\u2019s Ability to Recover Monies Made from Illegal Conduct"},"content":{"rendered":"

In Kokesh v. SEC<\/em>, the US Supreme Court has restricted the US Securities and Exchange Commission\u2019s ability to pursue disgorgement after five years have passed since the fraud alleged led to illegal profits. In a unanimous decision, the nation\u2019s highest court said that that the five-year statute of limitations must be followed.<\/p>\n

The securities fraud lawsuit<\/a> was brought by Charles Kokesh, who was convicted for misappropriating funds from four investment companies that he controlled and using the money to support his expensive lifestyle. In 2015, a judge ordered Kokesh to pay a $2.4M civil penalty.<\/p>\n

Additionally, because the SEC considered disgorgement to have no statute of limitations, the judge also ordered the businessman to pay $35M. This is how much he was calculated to have illegally made starting from when he began engaging in his illegal conduct, from 1995 to 2009.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In Kokesh v. SEC, the US Supreme Court has restricted the US Securities and Exchange Commission\u2019s ability to pursue disgorgement after five years have passed since the fraud alleged led to illegal profits. In a unanimous decision, the nation\u2019s highest court said that that the five-year statute of limitations must be followed. The securities fraud […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801,3760,3741],"tags":[],"class_list":["post-4740","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nUS Supreme Court Restricts SEC\u2019s Ability to Recover Monies Made from Illegal Conduct — Investor Lawyers Blog — June 10, 2017<\/title>\n<meta name=\"description\" content=\"In Kokesh v. 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